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- 1. Multiple Choice
Which is a goal of the Federal Reserve?
Create a high level of inflation
Create price stability in the economy
Print currency for American citizens
Develop fiscal policy for the United States
- 2. Multiple Choice
What led to the creation of the Federal Reserve System?
The stock market crash in 1929
The establishment of the Department of Treasury
A series of bank panics and failures in the early 1900s
The great recession of 2008
- 3. Multiple Choice
Who is the current Chairman of the Federal Reserve?
Jerome Powell
Janet Yellen
Alan Greenspan
Paul Ryan
- 4. Multiple Choice
How many districts are there for the Federal Reserve Banks?
15
50
100
12
- 5. Multiple Choice
How does someone become a member of the Board of Governors?
Appointed by Congress
Nominated by President & confirmed by the Senate
Voted on by American citizens
Chosen by the Chairman of the Fed
- 6. Multiple Choice
If the Fed wanted to contract or tighten the economy to help fight inflation, they might
Increase reserves to limit what banks can loan out
Lower the interest rate
Decrease reserves allowing banks to loan more
Decrease government spending
- 7. Multiple Choice
What are the two tools the FOMC will use to determine monetary policy?
Taxing and spending
Interest rates and reserve requirements
legislation and enforcement
interest rate and tax rates
- 8. Multiple Choice
Who oversees the actions of the Fed?
President
Supreme Court
Congress
No one
- 9. Multiple Choice
If the Fed wanted to expand or ease monetary policy, which might they do?
Increase reserves, limiting what banks can loan
Increase the interest rate
Decrease the interest rate
Lower taxes
- 10. Multiple Choice
Which does NOT describe a role of the Federal Reserve Banks?
provide services to commerical banks in US
process gov't checks & maintain US Treasury account
reserach regional and international economies & distribute information
determining whether to raise or lower the reserve rate and/or interest rate
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