Chapter 16 Quiz: The Federal Reserve and Monetary Policy?
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1. The Federal Reserve Districts are the a. Research arm of the Federal Reserve. b. Group of Federal Reserve governors that influences the level of real GDP and the rate of inflation in the economy. c. Twelve banking districts created by the Federal Reserve Act. d. Federal Reserve committee that makes key decisions about interest rates and the growth of the United States money supply. 2. The Federal Open Market Committee (FOMC) is the a. Research arm of the Federal Reserve. b. Group of Federal Reserve governors that influences the level of real GDP and the rate of inflation in the economy. c. Seven-member board that oversees the Federal Reserve System. d. Federal Reserve committee that makes key decisions about interest rates and the growth of the United States money supply. 3. What is the length of a term for a member of the Board of Governors? a. 8 years b. 12 years c. 14 years d. 15 years 4. All banks were granted equal access to Federal Reserve System services like check clearing and reserve loans in a. 1980. b. 1975. c. !970. d. 1950. 5. How many directors are on the boards for each of the twelve Federal Reserve Banks? a. 7 b. 9 c. !2 d. 15 6. Monetary policy is the a. Purpose of a Federal Reserve District Bank. b. Action the Federal Reserve takes to influence the level of real GDP and the rate of inflation in the economy. c. Seven-member board that oversees the Federal Reserve System. d. Federal Reserve committee that makes key decisions about interest rates and the growth of the United States money supply. 7. The research arm of the Federal Reserve is the a. Federal Advisory Council (FAC). b. Federal Open Market Committee (FOMC). c. Board of Governors. d. Federal Reserve District. 8. The seven-member board that oversees the Federal Reserve System is the a. Federal Advisory Council (FAC). b. Federal Open Market Committee (FOMC). c. Board of Governors. d. Federal Reserve District. 9. Why were many U.S. citizens against the Second Bank of the United States, which was an attempt by Congress to restore order in the monetary system in 1816? a. Citizens feared that there could be a reoccurrence of "The Panic of 1807." b. Citizens feared that a central bank placed too much power in the hands of the federal government. c. Citizens believed that the Federal Reserve Districts were not assigned appropriately. d. Citizens believed that the states should not be given power over the banking system. 10. In 1935, what changes were made to the Federal Reserve System? a. A central group of banks were authorized to lend to each other in times of need. b. There was an increase of Federal District Banks from 10 to 12 banks. c. The problems of regional banks were no longer the concern of Federal District Banks. d. The Federal Reserve System was given more centralized power. 11. Where are coins manufactured? a. United States Mint b. Federal Reserve Banks c. Bureau of Engraving d. Bank holding companies 12. The federal funds rate is the a. Total assets minus liabilities. b. rate the Federal reserve charges for loans to commercial banks. c. Interest rate banks charge each other for loans. d. Process by which banks record whose account gives up money and whose account receives money when a customer writes a check. 13. The Federal Reserve System is responsible for all of the following EXCEPT a. Providing banking and fiscal services to the federal government. b. Implementing fiscal policy concerning taxation and government spending. c. Regulating the banking industry and providing banking services. d. Managing the national money supply to meet current demand. 14. Net worth is a. Total assets minus liabilities. b. The rate the Federal reserve charges for loans to commercial banks. c. The interest rate banks charge each other for loans. d. The process by which banks record whose account gives up money and whose account receives money when a customer writes a check. 15. The rate the Federal Reserve charges for loans to commercial banks is called a. Check clearing. b. A bank holding company. c. The federal funds rate. d. The discount rate. 16. How long does it take for a check to clear? a. One day b. Two days c. Three days d. Four days 17. Truth-in-lending laws require that a. Banks lend each other funds using the federal funds rate. b. Banks allow Federal Reserve examiners to audit their financial activities. c. Bank holding companies offer the same interest rates at all of their member banks. d. Sellers provide full and accurate information about loan terms. 18. A company that owns more than one bank is a a. Savings and loan. b. Bank holding company. c. Federal Reserve Bank. d. Corporation.
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Answer:
I work 10 hrs a day, come home. Do my chores, make dinner, have a drink, then come on here. Thank you for your work, dont have the energy to answer your questions. Maybe on a saturday...lol.
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I was always raised in school, to never give away the answers to someone unwilling to want to know the answers themselves.
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