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3 Written questions

3 Multiple choice questions

  1. A statement of the assets, liabilities, and net worth of a firm or individual at some given time.
  2. The funds that banks and thrifts must deposit with the Federal Reserve Bank (or hold as vault cash) to meet the legal reserve requirement; a fixed percentage of the bank's or thrift's checkable deposits.
  3. The interest rate banks and other depository institutions charge one another on overnight loans made out of their excess reserves.

3 True/False questions

  1. Monetary multiplierThe multiple of its excess reserves by which the banking system can expand checkable deposits and thus the money supply by making new loans (or buying securities); equal to 1 divided by the reserve requirement.

          

  2. Excess reservesThe amount by which a bank's or thrift's actual reserves exceed its required reserves; actual reserves minus required reserves.

          

  3. Actual reservesThe amount by which a bank's or thrift's actual reserves exceed its required reserves; actual reserves minus required reserves.

          

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