金融学(双语)复习资料第5章

Chapter 5错误！未指定书签。

THE FEDERAL RESERVE

TRUE/FALSE

F 1. The power to create money is given by the Constitution to the

Federal Reserve.创造货币的权力是宪法赋予美联储

T 2. When corporations retire (pay off) loans from commercial banks, excess reserves are increased.当企业退休从商业银行（支付）的贷款，超额准备金增加。

F 3. When the general public uses money in checking accounts

to purchase stock issued by corporations, the required reserves of banks are reduced.当一般公众使用的钱在支票账户购买公司发行的股票，所需要的

银行的准备金就会减少

F 4. Only large commercial banks are subject to the regulation of

the Federal Reserve.只有大型商业银行受到美联储的监管

F 5. When the Federal Reserve sells securities, the money supply

is increased.当美联储出售证券，货币供应量增加

T 6. When the Federal Reserve buys securities, the reserves of banks are increased.当美联储购买证券，银行的准备金增加

T 7. Open market operations is a more flexible tool of monetary policy than the reserve requirements.公开市场操作是货币政策的一

个更灵活的工具，比准备金要求

T 8. Reserve requirements are infrequently changed to affect commercial bank lending.准备金要求频繁改变会影响商业银行贷款

T 9. The Open Market Committee has twelve members that include the Board of Governors.公开市场委员会有十二名成员，其中包括理事会

F 10. The presidents of the District Banks elect the Board of

Governors of the Federal Reserve.该地区银行的总统选举联邦储备理事

会

F 11. The federal funds rate is the interest rate the Federal

Reserve charges banks when they borrow reserves.联邦基金利率是

利率联邦储备银行收费时，他们借入储备

F 12. If the Treasury borrows from the Federal Reserve, the

lending capacity of banks is reduced.如果财政部从美联储借，银行

的放贷能力降低

T 13. If the Treasury sells debt that is purchased by corporations and uses the funds to purchase military equipment, the

excess reserves of the banking system are not affected.如果

财政部出售债券是由公司购买并使用的资金购买军事装备，多余的银行体系储备

不受影响

T 14. Deflation is a period of declining prices.通货紧缩是一个时期价

格下跌

F 15. During a period of recession, the Fed sells securities.在衰退期，美联储出售证券

T 16. The Consumer Price Index (CPI) is a measure of inflation.居

民消费价格指数（ CPI）是衡量通货膨胀的

T 17. The Federal Reserve is independent of the U.S. Treasury and is owned by commercial banks.美联储是独立于美国财政部，由商业银行

所拥有

F 18. The President of the United States appoints the Federal Open

Market Committee.美国总统任命的联邦公开市场委员会

F 19. Since the reserves of commercial banks earn interest, there

is an incentive to hold excess reserves.由于商业银行的准备金赚取

利息，还有持有超额准备金的奖励

T 20. Open market operations is a more flexible tool of monetary policy than the discount rate.公开市场操作是货币政策的一个更灵活的

工具比贴现率

T 21. Commercial banks may buy and sell reserves in the federal funds market.商业银行可以在联邦基金市场上购买和出售储备

T 22. If the Treasury issues new bonds that are purchased by the general public, the money supply is reduced if the Treasury

deposits the funds in the Federal Reserve.如果财政部发布了由广大

市民购买新的债券，货币供应量减少，如果国库存款资金在美联储