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(Solved by Expert Tutors)Question 6

According to Chartalism, fiat (paper) money has value be


Question 6

According to Chartalism, fiat (paper) money has value because

it is declared legal tender

it is backed by precious metal such as gold

the government promises to convert it into gold

it is the only thing the state will accept in payment of taxes

all of the above

Question 7

According to Orthodox monetary theory, the three policy tools of the FED are:

open market operations, changing the discount rate, changing the required reserve ratio

open market operations, changing the fed funds rate, changing the discount rate

changing the fed funds rate, changing the discount rate, changing the required reserve ratio

open market operations, changing the required reserve ratio, buying and selling bonds

Question 8

According to Heterodox theory all money

is a social relation of credit and debt

all of the above

is backed by legal tender laws

evolved from a barter economy

Question 9

What is the purpose of federal taxes according the heterodox view of money?

to help the government pay its bills, balance its budget, and pay down the national debt

to create demand for the currency, regulate aggregate demand, and influence the distribution of income

to provide the government with revenue and regulate aggregate supply

None of the above

to keep government spending under control

Question 10

According to heterodox theory, if the government runs a surplus this is likely to have what effect on the Fed Funds Rate

It will have no effect on the Fed Funds Rate

A surplus crowds in private spending putting upward pressure on the Fed Funds Rate

A surplus tends to reduce the amount of reserves in the banking system driving the Fed Funds Rate up

A surplus tends to increase the amount of reserves in the banking system driving the Fed Funds Rate down

 


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Apr 19, 2020

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