Exam (elaborations)
JCCC Econ Final Exam Questions and Answers
- Course
- Institution
JCCC Econ Final Exam Questions and Answers
[Show more]
Content preview
JCCC Econ Final Exam Questions andAnswers
The U.S. public debt - Answer-consists of the historical accumulation of all past federal
deficits and surpluses.
If you are estimating your total expenses for school next semester, you are using money
primarily as - Answer-a unit of account.
If you place a part of your summer earnings in a savings account, you are using money
primarily as a - Answer-store of value.
Purchasing groceries using a debit card best exemplifies money serving as a - Answer-
medium of exchange.
In the United States, the money supply (M1) includes - Answer-coins, paper money,
checkable deposits, and savings deposits.
Coins in people's pockets and purses are - Answer-included both in M1 and in M2.
The value of money varies - Answer-inversely with the price level.
During periods of rapid inflation, money may cease to work as a medium of exchange -
Answer-because people and businesses will not want to accept it in transactions.
The central authority of the U.S. banking system is the - Answer-Board of Governors of
the Federal Reserve.
The Federal Reserve System was created in - Answer-1913
In the U.S. economy, the money supply is controlled by the - Answer-Federal Reserve
System.
The Federal Open Market Committee (FOMC) is made up of - Answer-the seven
members of the Board of Governors of the Federal Reserve System along with the
president of the New York Federal Reserve Bank and four other Federal Reserve Bank
presidents on a rotating basis.
The group that sets the Federal Reserve System's policy on buying and selling
government securities (bills, notes, and bonds) is the - Answer-Federal Open Market
Committee (FOMC).
Which one of the following is true about the U.S. Federal Reserve System? - Answer-
There are 12 Federal Reserve districts each with one central bank.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller lectknancy. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
62555 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now