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