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Exam 20: Money,financial Institutions,and the Federal Reserve

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Question 41

Multiple Choice

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Which of the following institutions primarily finances economic development projects in less-developed countries?

A) The International Monetary Fund
B) The World Bank
C) The International Development Administration
D) The International Reserve Bank

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Question 42

Multiple Choice

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Which of the following helps to provide for the smooth flow of money between nations?

A) International Monetary Fund
B) Foreign Exchange Bank
C) World Bank
D) International Exchange Center

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Question 43

True/False

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In an electronic funds transfer (EFT)system,the information of a transaction is communicated from one computer to another.

GO-tags,a new product introduced by First Data,Inc.sports a small chip with a radio-transmitter that permits the user to tap a small card against a machine and transfer funds from the card to the vendor's account.

The Federal Reserve System enabled the U.S.economy to avoid serious banking problems during the Great Depression.

On payday,employers can designate their banks to electronically transfer funds from the business' checking account to the employees' checking account.This represents an example of a(n) :

The World Bank primarily finances projects to improve the productivity and standard of living in less-developed nations.

Electronic fund transfer (EFT)tools include debit cards,smart cards,direct deposit,direct payments,and electronic check conversion.

Damian has played supporting roles in a number of movies and is also passionate about his craft to the point where he created a home theatre inside his house.He has a satellite dish where he receives an unlimited number of movies,and he also has an online account with Netflix™ and Blockbuster™.For added convenience,he has set-up direct payment to these companies.This means when his statement arrives each month,he will get online and tell his bank how much to pay these vendors.

Smart cards can allow the user to access secure areas within buildings or buy gas with the swipe of the card.

Typically,banks impose a service charge for check-writing privileges or demand a minimum deposit.

The ___________ represents one of the Fed's most powerful monetary policy tools.

The World Bank has received criticism because:

__________ occurs when goods are traded directly for other goods.

Some financial services organizations lend money directly to corporations.

The Small Business Administration has reduced its guaranteed loan program.

Thanks in part to the Federal Reserve System,few banks failed during the Great Depression.

When Mr.Smith in Quince Orchard,MD uses a check to buy a tractor from Mr.Brown in Austin,TX,__________ different banks are involved in the transaction.

Yesterday it was reported that the U.S.is clearly experiencing an economic downturn.A strategy the Fed may enact if the nation is facing recession is to buy government securities in open-market operations.

Everything else held constant,an international bank based in New York would prefer to loan money to an efficient firm operating in San Paulo,Brazil than an inefficient firm operating in southern California.