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The Federal Reserve

Total questions: 20

Worksheet time: 18mins

Name
Class
Date
1.
There are _______ Regional Federal Reserve Banks, and one Federal Reserve Board of Governors.
a)
50
b)
4
c)
12
d)
52
2.
To much money in our economy leads to 
a)
Inflation
b)
Recession
3.
The Federal Reserve is called "The Bankers Bank" because it supervises banks.
a)
False
b)
True
4.
What is the name of our nation's central bank?
a)
The Federal Reserve
b)
The United States National Bank
c)
The National Bank of the United States
d)
Bank of America
5.
The Federal Reserve maintains the _______ of our currency.
a)
value
b)
design
c)
trading
d)
color
6.
The Fed ______________ banks to ensure the soundness of the banking system.
a)
regulates
b)
closes
c)
opens
d)
runs
7.
The ___________ acts as the federal government's bank
a)
Federal Reserve Bank
b)
Bank of America
c)
First Bank of the United States
d)
National Bank of the United States
8.
The fed manages the amount of __________ in the economy to try to keep inflation low and stable.
a)
money
b)
people
c)
companies
d)
credit cards
9.

The Federal Reserve...

a)

Regulates the amount of money in circulation

b)

Supervises banks

c)

Provides financial services to banks and the public

d)

All of the above.

10.

The amount of deposits that banks are required to keep on hand is called...?

a)

monetary policy

b)

money creation

c)

reserve requirements

d)

prime rate

11.

The Fed refers to the....

a)

Federal Bureau of Investigation

b)

Federal Government

c)

Federal Reserve

d)

Federal Income Tax

12.

How many regional Reserve Banks make up the Federal Reserve System?

a)

12

b)

6

c)

22

d)

50

13.

The 12 regionally located reserve banks...

a)

Assists the U.S. Treasury by distributing currency, provides overnight loans to commercial banks, and processes electronic payments.

b)

Handle all deposits made by federal employees.

c)

Store 1/12 of the gold used to support the value of the the U.S. dollar.

d)

Visit other countries to study their banking system looking for opportunities to improve.

14.

The primary responsibilities of the Federal Reserve are...

a)

making monetary decisions that regulates the economy

b)

promoting economic growth

c)

determines the supply of money

d)

All of the above

15.

What is the most effective, and most common, action taken by the Federal Reserve to speed up or slow down the economy?

a)

Changing the discount, or Overnight, rate.

b)

Selling T bills, T notes, and T bonds

c)

Buying T bills, T notes, and T bonds

d)

Dumping 10 million dollars into circulation

16.
How are the Board of Governors appointed?
a)
Appointed by the Federal Open Market Committee
b)
Approved by the Senate after appointment by the President of the United States.
c)
The presidents of the regional reserve banks are appointed as the governors.
d)
Appointed by the people of the United States
17.
Where is the Board of Governors located?
a)
travels to the various Reserve Banks
b)
at the New York Federal reserve
c)
in the state of Washington
d)
in the District of Columbia
18.
How many members are on the Board of Governors?
a)
7 Governors + 12 Reserve Bank Presidents+ NY Reserve Pres
b)
12 Presidents of the Reserve Banks
c)
7 Governors
d)
4 Governors + 4 Reserve Presidents + 1 Economist
19.
The Governors most important function is participating in the _________________ .
a)
Election of Reserve Bank presidents
b)
Helping the President of the United States
c)
Representing members of the Senate
d)
Federal Open Market Committee
20.
What is the long term goal of the Federal Reserve?
a)
High inflation
b)
Low inflation
c)
Unstable inflation
d)
Fast inflation

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