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

Exam Information

Material Type:Exam 3
Professor:McLeod
Class:ECON 2006 - Principles of Economics
Subject:Economics
University:Virginia Polytechnic Institute And State University
Term:--
Keywords:
  • Reserve Requirement
  • Requirement
  • Ceteris Paribus
  • Immediately
  • Contractionary Monetary Policy
  • Expansionary Fiscal Policy
  • Interest Rate
  • Government Securities
  • Unit of Account
  • Investment Interest
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Sample Document Text

Econ 2006-11665 FORMA Test 3 McLeod I. The Federal Open Market Committee met on March 18 to set a target for the Federal Funds rate. They decided to leave it unchanged. It is currently 1 114%. The Federal Funds rate is A) the interest rate that the Fed charges to banks when it lends them reserVes. B) the interest rate that banks charge each other on overnight loans. C) the interest rate that banks charge on short term loans for customers with a perfect credit rating. D) the interest rate paid by the Treasury on government bonds. 2. Members of the Fed's Board of Govemors are A) appointed by the President of the US to a 14 year term. B) appointed by the Senate to a 14-year term. C) elected by the Board of Directors of the Federal Reserve Banks to 4-year terms. D) appointed by the President of the US to 4-year terms. The next 2 questions refer to the following scenario: Bank A has no initial assets or liabilities. Brooks makes a cash deposit of $2000 into Bank A. The reserve requi...

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