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Macro Chapter 17 Test

Enter the letter for the matching Definition
incorrect
1.
liabilities
incorrect
2.
owner's equity
incorrect
3.
M(1)
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4.
Open market operations
incorrect
5.
fractional reserve banking
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6.
discount loans
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7.
checkable deposits
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8.
assets
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9.
required reserve ratio
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10.
moral hazard
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11.
discount rate
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12.
commodity-backed money
incorrect
13.
simple money multiplier
incorrect
14.
currency
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15.
excess reserves
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16.
federal funds rate
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17.
M(2)
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18.
double coincidence of wants
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19.
medium of exchange
A.
the difference between a firm's assets and its liabilities
B.
the portion of deposits that banks are required to keep on reserve
C.
condition occurring when each party in an exchange transaction happens to have what the other party desires
D.
money that can be exchanged for a commodity at a fixed rate
E.
the money supply measure that includes everything in M1 plus savings deposits, money market mutual funds, and small-denomination time deposits (CDs)
F.
any reserves held by a bank in excess of those required
G.
the interest rate on the discount loans made by the Federal Reserve to private banks
H.
the money supply measure that is essentially composed of currency, checkable deposits, and traveler's checks
I.
involve the purchase or sale of bonds by a central bank
J.
loans from the Federal Reserve to private banks
K.
the lack of incentive to guard against risk where one is protected from its consequences
L.
what people trade for goods and services
M.
the paper bills and coins that are used to buy goods and services
N.
the financial obligations a firm owes to others
O.
deposits in bank accounts from which depositors may make withdrawals by writing checks
P.
a system in which banks hold only a fraction of deposits on reserve
Q.
the rate at which banks multiply money when all currency is deposited into banks and they hold no excess reserves
R.
the interest rate on loans between private banks
S.
the items that a firm owns
Type the Term that corresponds to the displayed Definition.
incorrect
20.
money that has no value except as the medium of exchange; there is no inherent or intrinsic value
incorrect
21.
the targeted use of open market operations in which the central bank buys securities specifically targeting certain markets
incorrect
22.
the measure in which prices are
incorrect
23.
the trade of a good or service without a commonly accepted medium of exchange
incorrect
24.
the use of an actual good in place of money
incorrect
25.
event occurring when many depositors attempt to withdraw their funds from a bank at the same time
incorrect
26.
an accounting statement that summarizes a firm's key financial information
incorrect
27.
a means for holding wealth
incorrect
28.
deposits that private banks hold on reserve at the Federal Reserve
incorrect
29.
the portion of bank deposits that are set aside and not loaned out

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