Understanding the Federal Reserve

What year was the Federal Reserve created?

• 1903

• 1913

• 1923

• 1933

Which of the following is NOT a part of the Federal Reserve's structure?

• A single central bank

• A central governing board

• A decentralized operating structure

• A combination of public and private characteristics

Which function of the Federal Reserve involves adjusting the money supply?

• Promoting consumer protection

• Conducting monetary policy

• Ensuring financial institution safety

• Fostering payment system safety

Who was a major opponent of the creation of a federal bank in the early United States?

• John Adams

• James Madison

• Thomas Jefferson

• Alexander Hamilton

What was the era called when there was no federal bank and state banks issued their own currency?

• The Free Banking Era

• The National Banking Era

• The Central Banking Era

• The Federalist Era