Understanding the Federal Reserve System

Understanding the Federal Reserve System

Assessment

Flashcard

English

KG

Hard

Created by

Wayground Content

FREE Resource

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15 questions

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1.

FLASHCARD QUESTION

Front

What is the Federal Deposit Insurance Corporation (FDIC)?

Back

An independent agency created by the federal government to protect bank customers by insuring their deposits.

2.

FLASHCARD QUESTION

Front

What type of money does the US Treasury department produce?

Back

Paper Money.

3.

FLASHCARD QUESTION

Front

What does monetary policy affect?

Back

Monetary policy affects the money supply, primarily through changing interest rates.

4.

FLASHCARD QUESTION

Front

Who puts US paper currency into circulation?

Back

The Fed.

5.

FLASHCARD QUESTION

Front

What function of money is represented by the term 'Unit of Account'?

Back

It is a function of money that provides a standard measure of value.

6.

FLASHCARD QUESTION

Front

What is the role of the Federal Reserve?

Back

The Federal Reserve manages the country's monetary policy and regulates banks.

7.

FLASHCARD QUESTION

Front

What is a savings account?

Back

A bank account that earns interest on the money deposited.

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