If this Series is stored in variable s, then sum(s) tells us:

Remember this is just the First Part of the exam. Midterm I – Part 2 (Coding Qs) is in a separate quiz. Do you agree to take BOTH? Failure to answer will result in assumption of the second option.

Actual bank reserves are equal to

​The Federal Reserve operates as

Consider the following data about the economy: currency outstanding (C) = $2 trillion, ​total deposits (D) = $1 trillion, total reserves (R) = $60 billion, and the required reserve ratio (RR ratio) = 5%. What is the money multiplier for this economy?

When central banks were first created, their primary function was to

​The Federal Reserve district banks are primarily responsible for

When the Federal Reserve makes a loan at the discount window to a bank, it will __________ the monetary base by __________ bank reserves.

Of the policy tools available to the Federal Reserve, the most frequently used are the

When the excess reserve ratio decreases, the impact of changes in the monetary base on the money supply is