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Past Exam for ECON 2006 - Principles of Economics with Cothren at Virginia Tech (VT)

Exam Information

Material Type:Exam 2
Professor:Cothren
Class:ECON 2006 - Principles of Economics
Subject:Economics
University:Virginia Polytechnic Institute And State University
Term:Spring 2008
Keywords:
  • Open Market Sale
  • Reserve Ratio
  • Required Reserve Ratio
  • Checking Account
  • Determination
  • Consumption
  • Individuals
  • Responsibility
  • Discount Rate
  • None of the Above
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Sample Document Text

1 Exam 2, Spring 2008, Chapters 9-12 Form A [1]Bank reserves are defined as _____. 1. the total cash in bank vaults. 2. money deposited in Federal Reserve accounts. 3. the sum of vault cash and deposits at Federal Reserve banks 4. the total amount of money a bank must hold. 5. ten percent of demand deposit liabilities. [2]According to the National Bureau of Economic Research (the NBER), the U.S. economy entered a recession in March 2001. The recession lasted until _____, and was caused by a decrease in autonomous _____. 1. November 2001, investment. 2. November 2001, consumption. 3. March 2002, investment. 4. 5. March 2002, consumption. None of the above. [3]Which of 1-3 represents the Fed's contribution to the 1937 recession? 1. An increase in the Fed's discount rate. 2. An increase in the required reserve ratio. 3. An open market sale of bonds by the Fed. 4. 5. Each of the above. None of the above. [4]During the Great Depressi...

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