Federal Reserve Board Quiz

What is the main job of the Chairman of the Federal Reserve Board?

• Regulate the U.S. economy

• Enforce tax laws

• Manage foreign relations

• Control the military

What are the three main objectives of the Federal Reserve Board?

• Maintain full employment, control inflation, and set interest rates

• Regulate international trade, enforce antitrust laws, and protect consumer rights

• Stimulate exports, reduce imports, and balance the budget

• Increase government spending, reduce taxes, and print more money

Who influences the Chairman of the Federal Reserve Board in making financial policy decisions?

• The World Bank and the International Monetary Fund

• The Secretary of the Treasury and the Secretary of Commerce

• The President and the Congress

• The 12 regional Federal Reserve Bank presidents and the seven members of the Board of Governors

What does the Federal Reserve Board do to stimulate the economy?

• Raise taxes

• Buy more bonds

• Increase interest rates

• Reduce government spending

What is the minimum wage paid to Irma?

• $8.50 an hour

• $7.25 an hour

• $6.00 an hour

• $9.75 an hour

What is the role of the Federal Reserve Board in controlling the money supply?

• Print more money

• Encourage people to save money

• Invest in the stock market

• Limit the amount of money banks can lend

What does the Federal Reserve Board do to inspire confidence about the economy?

• Encourage people to spend their money

• Promote excessive borrowing

• Advise people to hoard their money

• Discourage people from investing

What is the Chairman of the Federal Reserve Board's influence on interest rates for people trying to buy homes?

• Help determine interest rates

• Set fixed interest rates

• Have no influence on interest rates

• Increase interest rates

What is the Chairman of the Federal Reserve Board's role in safeguarding the banking system?

• Audit individual bank accounts

• Control the stock market

• Provide insurance for bank deposits

• Regulate the entire banking system

What is the Chairman of the Federal Reserve Board's responsibility in maintaining full employment?

• Buy more bonds to stimulate the economy

• Control the money supply

• Employing people

• Make major financial policy decisions