The Fed

What year was the Fed created?

• 1929

• 1945

• 1913

• 1922

Where is the closest Federal Reserve Bank located?

• Dallas

• Atlanta

• Macon

• Birmingham

How many Board of Governors are there?

• 5

• 6

• 7

• 9

How long is the term for a Board of Governor?

• 6 years

• 10 years

• 14 years

• 4 years

Of the 12 District Bank Presidents, how many vote when meeting with the Federal Open Market Committee?

• 5

• 7

• 10

• 12

What are 3 main goals for the FOMC?

• Price Stability

• Economic Growth

• Full Employment

• Profit Motive

Policies set forth by the Fed are called _______ policies.

• Monetary

• Fiscal

• Financial

• Monotone

3 Key tools of Monetary Policy are:

• Reserve Requirement

• Discount Rate

• Income Taxes

• Open Market Operations

When INFLATION is high, The Fed wants to ___________ the money supply.

• Increase

• Decrease

When the economy is in a downturn, the Fed wants to ______ the money supply.

• Increase

• Decrease