Money, Banking, & The FED

The central bank in the USA that regulates the monetary system is known as

• IRS

• FDIC

• FED

• Social Security

Monetary Policy is controlled by

• The Federal Reserve Bank

• The Legislative Branch

• The President

• Congress

Which of the following are characteristics of Money (Check ALL that apply)

• Portable

• Durable

• Easily Divisible

• Available, but in limited supply

• Available, in unlimited supply

All of the following are functions of money, EXCEPT

• Medium of Exchange

• Measure of Value

• Inflation Proof

• Store of Value

The FED keeps a certain amount of money out of circulation. This is referred to as

• Hoard

• Emergency Fund

• Stockpile

• Reserve Requirement

The FED does all of the following, EXCEPT

• Raise taxes

• Act as government's bank

• Regulate banking activity

• Provide check clearing services

The FED was created

• Post Revolutionary War

• Post Civil War

• Post WW2

• Post Vietnam War

What is a Bank's most profitable product

• ATM Fees

• Loans

• Taxes

• Checking/Savings Accounts

The FED keeps a certain amount of money in circulation. This is referred to as

• Excess Reserves

• Emergency Fund

• Demand Deposits

• Reserve Requirement

How do Banks make money on loans?

• Credit Card

• Flat Loan Fee

• Interest Rates

• They don't make money