Which of the following best describes the relationship between the Federal Reserve and the U.S. government? Options: The Federal Reserve is a part of the U.S. government and its decisions must be approved by Congress. The Federal Reserve acts as the government's bank, but operates independently of direct government control. The Federal Reserve is under the direct control of the President of the United States. The Federal Reserve and the U.S. government are completely separate entities with no direct influence over each other.
Monetary Policy Practice

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Social Studies
•
12th Grade
•
Hard
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1.
FLASHCARD QUESTION
Front
Back
The Federal Reserve acts as the government's bank, but operates independently of direct government control.
2.
FLASHCARD QUESTION
Front
Members of the Federal Reserve Board of Governors:
Back
serve 14 year terms
3.
FLASHCARD QUESTION
Front
How many regional banks make up the Federal Reserve System?
Back
12
4.
FLASHCARD QUESTION
Front
Which subcommittee of the Federal Reserve is responsible for implementing monetary policy? Options: Federal Reserve Board of Governors, Federal Open Market Committee, Federal Reserve Oversight Committee, Federal Reserve Interest Rate Committee
Back
Federal Open Market Committee
5.
FLASHCARD QUESTION
Front
Fedwire is most associated with which of the Fed's primary functions?
Back
the payments system
6.
FLASHCARD QUESTION
Front
The Dodd-Frank Act of 2010 is most associated with which of the Fed's primary functions?
Back
supervision and regulation of banks
7.
FLASHCARD QUESTION
Front
Open market operations refers to:
Back
the Fed buying and selling bonds to commercial banks
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