Textbook QuestionsAnalyze How the Money Multi-plier Facilitates the Creation of Money by the Banking System.

Essay by arualUniversity, Bachelor'sA+, May 2010

download word file, 7 pages 0.0


Textbook Questions


ECO/372: Macroeconomics




Textbook Questions

Chapter 28 of Economics by Colander (2008) is Monetary Policy. Monetary policy is "a policy of influencing the economy through changes in the banking system's reserves that influence the money supply and credit availability in the economy" (Colander, 2008, p. 666). In this paper, I will provide a question and answer format for web questions one and two from chapter 28.

Web Question One

1a. Who is the chairman of the board? For how long has he or she served?

The Chairman of the Board of Governors of the Federal Reserve System is Ben S. Bernanke. Dr. Bernanke is serving a second term as Chairman of the Board and has served as Chairman since February 1, 2006. Dr. Bernanke has also served as a member of the board of Governors from 2002 to 2005.

1b. Who are the governors of the board?

The Governors of the Board of the Federal Reserve System are Donald L. Kohn, Kevin M. Warsh, Elizabeth A. Duke, and Daniel K. Tarullo.

1c. The site publishes a short biography for each governor. What experiences and/or degrees do all members have?

All members have different experiences and degrees, with minor similarities. Dr. Bernanke and Dr. Kohn were the only members who received their B.A.'s and Ph.D.'s in economics. Dr. Bernanke and Dr. Kohn have also had works published. Warsh and Tarullo both studied law and have both served as advisors in presidential administrations.

The main things the members have in common are that their experiences are in the areas of finance and economics.

1c. What experiences and/or degrees differ among members?

Ben S. Bernanke. Dr. Bernanke received a B.A. in economics from...