Econ- Chapter 15, Section 1 Question Preview (ID: 60298)

Monetary Policy. TEACHERS: click here for quick copy question ID numbers.

The primary responsibility of the Fed is to:
a) Clear checks
b) Supervise banks
c) Mint coins
d) Regulate the $ supply

Decisions to raise or lower interest rates are made by the:
a) Board of Governors
b) Federal Advisory Council
c) Federal Open Market Committee
d) President

The nation is divided into how many Federal Reserve districts?
a) 10
b) 12
c) 25
d) 50

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

The policy that involves changing the rate of growth of the supply of money in circulation is called:
a) Fiscal Policy
b) Monetary policy
c) Appropriation
d) Check clearing

The Federal Reserve System is also known as:
a) Fed Ex
b) Fed Plus
c) Fed
d) Fed Union

The group that directs the operations of the Fed is called:
a) Federal Advisory Council
b) Congress
c) Regulatory banks
d) Board of Governors

The group that meets 8 times a year to decide how the Fed should control the $ supply:
a) Federal Open Market Committee
b) Federal Advisory Coucnil
c) Board of Governors
d) Federal Reserve Council

The current chairman of the Federal Reserve is:
a) Alan Greenspan
b) Tim Geithner
c) Jerome Powell
d) Jake Delhomme

The Federal Advisory Council meets four times a year and reports to the Board of Governors on:
a) General business conditions in the nation
b) Monetary policy the Fed should enact
c) Standards for consumer legislation
d) Whether to raise or lower interest rates

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