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Econ- Chapter 15, Section 1
Test Description: Monetary Policy
Instructions: Answer all questions to get your test result.
1) Decisions to raise or lower interest rates are made by the:
A
Federal Advisory Council
B
Board of Governors
C
Federal Open Market Committee
D
President
2) The nation is divided into how many Federal Reserve districts?
A
25
B
10
C
50
D
12
3) The primary responsibility of the Fed is to:
A
Regulate the $ supply
B
Supervise banks
C
Clear checks
D
Mint coins
4) The Federal Advisory Council meets four times a year and reports to the Board of Governors on:
A
Whether to raise or lower interest rates
B
Monetary policy the Fed should enact
C
General business conditions in the nation
D
Standards for consumer legislation
5) The method by which a check is transferred to the issuer’s depository institution is called:
A
Check clearing
B
Check cashing
C
Check regulating
D
Check underwriting
6) The policy that involves changing the rate of growth of the supply of money in circulation is called:
A
Fiscal Policy
B
Appropriation
C
Check clearing
D
Monetary policy
7) The Federal Reserve System is also known as:
A
Fed
B
Fed Union
C
Fed Ex
D
Fed Plus
8) The group that directs the operations of the Fed is called:
A
Regulatory banks
B
Congress
C
Federal Advisory Council
D
Board of Governors
9) The group that meets 8 times a year to decide how the Fed should control the $ supply:
A
Board of Governors
B
Federal Reserve Council
C
Federal Advisory Coucnil
D
Federal Open Market Committee
10) The current chairman of the Federal Reserve is:
A
Alan Greenspan
B
Jake Delhomme
C
Tim Geithner
D
Jerome Powell
*select an answer for all questions
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