Understanding the Federal Reserve and Its Functions

Understanding the Federal Reserve and Its Functions

9th - 12th Grade

15 Qs

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Understanding the Federal Reserve and Its Functions

Understanding the Federal Reserve and Its Functions

Assessment

Interactive Video

Social Studies

9th - 12th Grade

Practice Problem

Hard

Created by

Susan Lowe

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary function of the Federal Reserve?

To oversee agricultural development

To provide educational services

To manage the country's monetary policy

To regulate the national defense system

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How is the Federal Reserve structured?

Operated by the state governments

12 Regional Reserve Banks across the country

Managed by private corporations

A single central bank in Washington, D.C.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the term 'decentralized' imply about the Federal Reserve?

It is part of the military

It is controlled by a single entity

It operates through several regional banks

It has no physical locations

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who are the voting members of the FOMC?

All members of Congress

Only the President of the United States

Selected Board of Governors and Reserve Bank presidents

All regional bank managers

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the Federal Open Market Committee responsible for?

Regulating the internet

Designing new currency

Setting monetary policy

Supervising schools

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does the Federal Reserve maintain its independence?

By receiving direct orders from the President

Through funding allocated by Congress

By having long-term appointed members

It is not independent

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What ensures the Federal Reserve's funding is not influenced by politics?

Donations from private companies

Earnings from government securities and service fees

State government budgets

Advertising revenue

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