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3 Written questions

3 Multiple choice questions

  1. The currency a bank has in its vault and cash drawers.
  2. The fraction of checkable deposits that a bank must hold as reserves in a Federal Reserve Bank or in its own bank vault; also called the reserve requirement.
  3. A statement of the assets, liabilities, and net worth of a firm or individual at some given time.

3 True/False questions

  1. Actual reservesThe funds that a bank has on deposit at the Federal Reserve Bank of its district (plus its vault cash).

          

  2. Required reservesThe funds that a bank has on deposit at the Federal Reserve Bank of its district (plus its vault cash).

          

  3. Federal funds rateThe interest rate banks and other depository institutions charge one another on overnight loans made out of their excess reserves.