1. Money functions as:
a. store of value
b. unit of account
c. medium of exchange
d. all of the above
2. In the United States the M1 money supply is comprised of:
a. coins, paper currency, and checkable deposits.
b. currency, checkable deposits, and government bonds.
c. coins, paper currency, checkable deposits, and credit card balances.
d. paper currency, coins, gold certificates, and time deposits..
3. The largest component of the M1 money supply is:
a. gold certificates
b. checkable deposits
d. time deposits
4. The purchasing power of money and the price level vary:
b. directly, but not proportionately
c. directly and proportionately
5. Checkable deposits are:
a. included in M1
b. not included in either M! or M2
c. considered to be a near money
d. also called time deposits
6. Coins held in commercial banks are:
a. included in M1, but not M2
b. included in both M1 and M2
c. included in M2, but not M1
d. not part of the nation's money supply
7. Assuming no other changes, if checkable deposits increase by $40 billion and currency and coins in circulation decrease by $40 billion, the:
a. M1 money supply will decline
b. M1 money supply will not change
c. M2 money supply will decline
8. The asset demand for money:
a. is unrelated to both the interest rate and the level of GDP
b. varies inversely with the rate of interest
c. varies inversely with the real level of GDP
d. varies directly with the level of nominal GDP
9. The total demand for money will shift to the left as a result of:
a. a decline in nominal GDP
b. an increase in the price level
c. a change in the interest rate
d. an increase in nominal gdp
10. If the quantity of money demanded exceeds the quantity supplied:
a. the supply of money curve will shift to the left
b. the demand for money curve will shift to the right
c. the interest rate will rise
d. the interest rate will fall
11. Which of the following statement is correct:
a. interest rates and bond prices vary directly
b. interest rates and bond prices vary inversely
c. interest rates and bond prices are unrelated
d. interest rates and bond prices vary directly during inflations and inversely during recessions
12. Other things equal, if there is an increase in nominal GDP:
a. the demand for money will decrease
b. the interest rate will rise
c. bond prices will rise
d. consumption spending will fall
13. In the U.S. economy the money supply is controlled by:
a. U. S. Treasury
b. Federal Reserve System
d. Senate Committee on Banking and Finance
14. The group that sets the Federal Reserves Systems policy on buying and selling government securities is:
a. Federal Deposit Insurance Corporation (FDIC)
b. Federal Bond sale Authority
c. Council of Economic Advisors
d. Federal Open Market Committee (FOMC)
15. Which of the following statements best describes the twelve Federal Reserve Banks:
a. they are privately owned and privately controlled central banks whose basic goal is to provide an ample and orderly market for U.S. treasury securities.
b. they are privately owned and publicly controlled central banks whose basic function is to minimize the risks in commercial banking in order to make it a reasonably profitable industry.
c. They are privately owned and publicly controlled central banks whose basic goal is to control the money supply and interest rates in promoting the general economic welfare.
d. They are privately owned and publicly controlled central banks whose basic goal is to earn profits for their owners.
16. The Federal Reserve System :
a. is basically an independent agency..
b. has the same status as the Supreme Court.
c. has the status of a Congressional Committee.
d. is an agency of the executive branch of the Federal government.
17. Credit card balances are:
a. a component of M1.
b. a component of M2, but not M1.
c. a component of M3, but not M2 or M1.
d. not a component of M1, M2, or M3.
18. The reserves of a commercial bank consist of:
a. the amount of money market funds it holds.
b. deposits at the federal reserve bank and vault cash.
c. government securities that the bank holds.
d. The bank's net worth.
19. Commercial banks monetize claims when they:
a. collect checks through the Federal Reserve System.
b. make loans to the public.
c. accept repayment of outstanding loans
20. Banks create money when they:
a. add to their reserves in the Federal Reserve Bank.
b. accept deposits of cash.
c. sell government bonds.
d. exchange checkable deposits for IOU's of businesses and individuals.
21. When a check is drawn and cleared:
a. reserves and deposits of both the bank against which the check is cleared and the bank receiving the check are unchanged by this transaction.
b. The bank against which the check is cleared losses reserves and deposits equal to the amount of the check.
c. The bank receiving the check losses reserves and deposits equal to the amount of the check.
d. The bank against which the check is cleared acquires reserves and deposits equal to the amount of the check.
22. Excess Reserves refer to the:
a. difference between a bank's vault cash and its reserves deposited at the Federal Reserve Bank.
b. minimum amount of actual reserves a bank must keep on hand to back up its customer's deposits.
c. difference between actual reserves and loans.
d. difference between actual reserves and required reserves.
23. Suppose that a bank's actual reserves are $5 million, its checkable deposits are $5 million, and its excess reserves are $3 million. The reserve requirement must be:
a. 40 percent
b. 20 percent
c. 10 percent
d. 5 percent
24. When a bank loan is repaid the supply of money:
a. is constant, but its composition will have changed.
b. is decreased.
c. is increased
d. may either increase or decrease
25. If actual reserves in the banking system are $ 8,000, checkable deposits are $ 70,000, and the legal reserve ratio is 10 percent , then excess reserves are:
b. $ 1,000
c. $ 2,000
d. $ 500
26. If the reserve ratio is 20%, the money multiplier is:
27. The main tools of monetary policy are:
a. tax rate changes, the discount rate, and open-market operations.
b. tax rate changes, changes in government expenditures, and open-market operations.
c. the discount rate, the reserve ratio, and open-market operations.
d. changes in government expenditures, the reserve ratio, and the discount rate.
28. The purchase of government securities from the public by the Fed will cause:
a. commercial bank reserves to decrease.
b. the money supply to increase.
c. demand deposits to decrease
d. the interest rate to increase
29. When the reserve requirement is increased:
a. required reserves are changed into excess reserves.
b. the excess reserves of member banks are increased.
c. a single commercial bank can no longer lend dollar-for-dollar with its excess reserves.
d. the excess reserves of member banks are reduced.
30. The purpose of a tight money policy is to:
31. If the economy were encountering a severe recession, proper monetary policy and fiscal policies would call for:
a. selling government securities, raising the reserve ratio, lowering the discount rate, and a budgetary surplus.
b. buying government securities, reducing the reserve ratio, reducing the discount rate, and a budgetary deficit.
c. buying government securities, raising the reserve ratio, raising the discount rate, and a budgetary surplus.
d. buying government securities, reducing the reserve ratio, raising the discount rate, and a budgetary deficit.
32. Which of the following explains why the aggregate demand schedule is downward sloping:
a. the real-balances effect.
b. the interest-rate effect.
c. the foreign purchases effect.
d. all of the above
33. Other things equal, a decrease in the real interest rate will:
a. expand investment and shift the AD curve to the left.
b. expand investment and shift the AD curve to the right.
c. reduce investment and shift the AD curve to the left.
d. Reduce investment and shift the AD curve to the right.
34. The economy's long-run aggregate supply curve:
a. slopes downward and to the right.
b. is vertical
c. is horizontal
d. slopes upward and to the right.
36. Suppose that nominal wages fall and productivity rises in a particular economy. Other things equal the:
a. aggregate demand curve will shift leftward.
b. the aggregate supply curve will shift rightward.
c. the aggregate supply curve will shift leftward.
d. the aggregate expenditures curve will shift downward.
37. In the Employment Act of 1946, the Federal government:
a. applied unemployment compensation to intrastate workers.
b. agreed to subsidize unemployed workers to the extent of 50 percent of their average income.
c. committed it to accept some degree of responsibility for general levels of employment and prices.
d. agreed to hire, through public works programs, any employees who cannot find jobs with private industry.
38. An appropriate fiscal policy for a severe recession would be:
a. a decrease in government spending.
b. a decrease in tax rates.
c. appreciation of the dollar.
d. an increase in interest rates
39. The financing of the government deficit increase interest rates and, as a result reduces investment spending. This statement describes:
b. wealth effect
c. crowding-out effect
d. net export effect
40. If the MPS (marginal propensity to save) in an economy is .1 (1/10), government could shift the aggregate demand curve rightward by $40 billion by:
a. increasing government spending by $4 billion.
b. Increasing government spending by $40 billion
c. decreasing taxes by $4 billion
d. increasing taxes by $4 billion.
Amino acids multiple choice questions
Which statement is incorrect about the classification of amino acids?
a. Alanine and valine are neutral, nonpolar amino acids.
b. Lysine and arginine are basic amino acids.
c. Tryptophan and phenylalanine are aromatic amino acids.
d. Aspartic acid and aspargine are acidic amino acids.
Which of the following amino acids is the least water soluble at pH 7.0?
b. Glutamic acid
Which amino acid would migrate the furthest toward the anode (positive electrode) during paper electrophoresis at pH 7.0?
a. Aspartic acid
Which of the following functional groups, attached to an inert matrix, could function as a cation exchanger?
Which of the following amino acids would make the best buffer at pH 4.5?
d. Aspartic acid
Which fact is incorrect about stereoisomers?
a. A diastereomer is a nonsuperimposable non-mirror image.
b. An enantiomer is a nonsuperimposible mirror image.
c. Diastereomers have different melting points.
d. Diastereomers rotate plane polarized light in equal but opposite direction.
Which statement is incorrect about L-isoleucine?
a. Its enantiomer is named O-isoleucine.
b. It contains a total of two asymmetric or chiral carbons.
c. It can also be named as (28, 38)-isoleucine using the (R,8) system.
d. Its diastereomer would be named O-alloisoleucine.
An isoelectric amino acid was dissolved in water and the resulting pH was approximately 7.6. What amino acid would possess this property?
b. Glutamic acid
What volume of NaOH is required to adjust the solution of monosodium aspartate to pH 9.8?
a. 1 ml
b. 2 ml
c. 3 ml
d. 6 ml or more
What volume of 2 N Hel is required to completely titrate the 4 mmol of monosodium aspartate?
a. 2 ml
d. 6 ml or more
Which statement is correct about the peptide ala-ser?
a. Alanine is at the N-terminal of the peptide.
b. There are a total six atoms that lie in the plane of the peptide bond linking alanine to serine.
c. The alpha-carbon of alanine is sp3 hybridized d All the above are correct statements.
What is the product formed from the acid hydrolysis of a simple amide?
a. Acid & base
b. Aldehyde & alcohol
c. Acid & amine
d. Ester & alcohol
The complete acid hydrolysis of the peptide ala-gln-trp-ser would yield:
a. Ala, gin, trp, ser
b. Ala, glu, ser
c. Ala, glu, trp, ser
d. Ala. ser
Fibrous proteins, such as collagen, have which of the following properties?
a. Highly soluble in water
b. Their hydrophilic residues are directed into the interior of the protein
c. Exhibit enzymatic activity
d. Serve structural roles in the cell
Quaternary structure is associated with:
a. The overall shape of a polypeptide chain
b. The sum of the secondary and tertiary interactions
c. Simple proteins with only one subunit
d. The relative orientation of one polypeptide to another polypeptide in a multi-subunit protein.
The information needed to define the structure of a protein is essentially contained in:
a. Amino acid composition
b. Amino acid sequence
c. Secondary structure
d. Tertiary structure.
Insulin is a polypeptide hormone that contains two short polypeptide chains linked by two interstrand disulfide bonds. The most logical order of events to perform in order to sequence this protein would be:
A: The peptides are reduced with mercaptoethanol.
B: The peptides are sequenced using Edman chemistry .
C: The peptides are separated by chromatography techniques. 0: The peptides are alkylated with iodoacetamide.
a. A, D,C, B b.C,A, 0, B
c. C, B, A, 0
d. A, B, C, 0
Which statement is incorrect about the peptide val-asp-trp-asn-ser?
a. This peptide would show a strong absorption band at 280 nm.
b. Reaction with chymotrypsin would yield two peptides.
c. To synthesize this peptide using the solid phase method of Merrifield, the amino acid directly attached to the resin would be serine.
d. After the second round of Edman chemistry using the reagent PITC, the PTH -amino acid residue released would be PTH-asn.
Which statement is incorrect about the reaction of the peptide ser-Iys-asp-trp-cys-metasn-phe-ala with the following reagents?
a. Reaction with cyanogens bromide would yield two peptides.
b. Reaction with trypsin would result in three peptides. The smallest of three peptides would have the highest pi of the three.
c. Reaciton with chymotrypsin would result in the peptides ser-Iys-asp & try-cys-met-Iysasn-phe-ala .
d. Reaction with chymotrypsin would yield a different set of peptides that overlap those obtained with tryspsin
Determine the amino acid sequence of the following oligopeptide from the experimental data below:
The amino acid composition is found the be ala, Iys, phe, met, cys plus some
2. The peptide has a molecular weight around 700 Da and absorbs at 280 nm.
3. Treatment with carboxypeptidase results in tryptophan and a peptide.
4. CNBr treatment yields a tetrapeptide and a dipeptide.
5. Trypsine digestion produces an amino acid and a pentapeptide with met on the amino end.
6. Chymotrypsin digestion yields a dipeptide and a tetrapeptide.
d. Iys-ala-cys-phe-met -trp