Quiz6 - Name PSU ID(last 4 Section Gen Ed Excerpt Quiz Econ...

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Name ______________ PSU ID (last 4) _______ Section ______ Gen Ed Excerpt Quiz – Econ 4: DO NOT TURN THIS QUIZ SHEET OVER UNTIL INSTRUCTED TO DO SO – GOOD LUCK!
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Name _____________________ PSU ID ____________________ Date _______ Gen Ed Excerpt Quiz – Econ 004 – good luck BE SURE TO DO ALL YOUR WORK ON QUIZ SHEET AND COMPLETE SCANTRON WHEN TOTALLY FINISHED WITH YOUR WORK. FORM A 1. Each member of the board of governors of the Federal Reserve System votes at all FOMC meetings. 2. An open market purchase by the Fed will shift the reserve supply curve to the left and all else constant, will raise the federal funds rate. 3. The Beige book is available to the public after each FOMC meeting and is used by the public to infer what the Fed may or not do in the future (with regard to interest rates). 4. If the actual federal funds rate is lower than target then the Fed can move the funds rate back to towards the target by conducting open market sales. 5. We argued that monetary policy makers, especially governors of the Federal Reserve, can afford to think longer term since they are appointed for 1 non-renewable 14 year term. This cannot be said for the Fiscal policy authorities; they are often concerned about re-election and thus, tend to think shorter term. 6. The discount rate is currently set by the Fed to be one full percentage point higher than their target for the federal funds rate.
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