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Banking Section Test 2
Test Description: 2nd review test for Banking section
Instructions: Answer all questions to get your test result.
1) What did the Glass-Steagall Act establish?
A
bailouts
B
discount rate
C
FDIC
D
open market operation
2) A loan given to financial institutions or businesses on the verge of closing is called a
A
FOMC
B
RRR
C
bank run
D
bailout
3) Two main sources of income for the FDIC are
A
premium payments by insured banks and discount rates
B
premium payments by insured banks and FDIC
C
premium payments by insured banks and investments in US Treasury bonds
D
premium payments by insured banks and bailouts
4) The Dodd-Frank Wall Street Reform and Consumer Protection Act of July 2010 made $____ the permanent amount insured by the FDIC.
A
$150,000
B
$250,000
C
$200,000
D
$100,000
5) What is disposable income?
A
all taxes-income
B
all inflation-payments
C
all payments-inflation
D
all income-taxes
6) Slow economic growth is called
A
inflation
B
expansionary
C
bank run
D
bailout
7) Which of the following is NOT a tool used by the government to affect aggregate spending?
A
taxes
B
disposable income
C
government purchases
D
transfer payments
8) Loans given to people who do not meet the requirements needed for the loan are called
A
transfer loans
B
subprime loans
C
prime loans
D
bailout loans
9) ____ are payments made by the government to households that provide neither goods/services to the government.
A
bailout payments
B
subprime payments
C
prime payments
D
transfer payments
10) What type of policy would the government use to overcome a recession?
A
contractionary monetary policy
B
expansionary monetary policy
C
none of these
D
fiscal policy
*select an answer for all questions
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