Textbook Questions Analyze How The Money Multi Plier Facilitates The Creation Of Money By The Banking System.

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Running head: TEXTBOOK QUESTIONS 1 TEXTBOOK QUESTIONS PAGE \* MERGEFORMAT 2
Textbook QuestionsnameECO/372: MacroeconomicsdateinstructorTextbook QuestionsChapter 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 One1a. 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 Harvard University (summa cum laude) and a Ph.D. in economics from the Massachusetts Institute of Technology. Dr. Bernanke has been an educator in the field of Economics at several institutions. He has taught at the Graduate School of Business at Stanford University, Massachusetts Institute of Technology, New York University and Princeton University (Governors of the Federal Reserve System, Ben S. Bernanke, n.d.). He also served the Federal Reserve System in various roles; member of the Board of Governors, visiting scholar, and member of the Academic Advisory Panel at the Federal Reserve Bank of New York.Donald L. Kohn. Dr. Kohn received a B.A. in economics from the College of Wooster and a Ph.D. in economics from the University of Michigan. He is the current Vice Chairman of the Board of Governors of the Federal Reserve System. Dr. Kohn "began his career as a Financial Economist at the Federal Reserve Bank of Kansas City" (Governors of the Federal Reserve System, Donald L.Kohn, n.d., para. 3). Dr. Kohn has served in various roles of the Fed; member of the Board, Adviser to the Board for Monetary Policy, Secretary of the Federal Open Market Committee, Director of the Division of Monetary Affairs, Deputy Staff Director for...

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