Unit 3 Test Review

In the United States today, which of the following functions as the central bank?

• The Federal Reserve

• The Federal Reserve Board

• The Federal Reserve together with Congress

• There is no central bank in the United States

Which of the following is NOT one of the Federal Reserve's main functions?

• Manage inflation

• Supervise the banking system

• Returning the market to equilibrium

• Providing banking services

Where is the Federal Reserve Headquarters located?

• Boston

• Philadelphia

• Washington DC

• San Francisco

The ______________ produces U.S. coins.

What is the motto of the United States that appears on all U.S. currency?

• We The People

• Life, Liberty, and the Pursuit of Happiness

• Blackcat Fight Never Dies

• In God We Trust

Which of the following are the basic functions of money?

(Multiple correct answers)

• Medium of Exchange

• Standard of Value

• Models of Competition

• Store of Value

The "Fed" refers to the-

• Federal Bureau of Investigation

• Federal Reserve

• Federal Government

• Federal Income Tax

The Federal Reserve is made up of ___ banks.

Fee charged to borrow money

• Inflation

• Discount Rate

• Interest

• Reserve Requirement

The Federal Reserve was established in 1913 under President _______________.