WorksheetsFederal Reserve System Quiz (Chapter 1)
Total questions: 10
Worksheet time: 20mins
What is the Federal Reserve System?
The central banking system of the United States
A federal law enforcement agency
A national healthcare program
A government department for education
Where and when was the basic plan for the Federal Reserve System drafted?
In Washington, D.C. in 1913
In New York City in 1910
In Philadelphia in 1912
At Jekyll Island in 1910
Who attended the secret meeting at J.P. Morgan's resort on Jekyll Island?
Nelson Aldrich
Henry Davison
Paul Warburg
All of the above
What were the five objectives of the Federal Reserve System as stated in the summary?
To conduct the nation's monetary policy
To supervise and regulate banking institutions
To maintain the stability of the financial system
To provide financial services to depository institutions
All of the above
Secrecy was important for the meeting held at Jekyll Island because:
It was a private social gathering.
It involved planning the Federal Reserve System.
It was a meeting of literary figures.
It was a secret military operation.
Who were the seven men who attended the secret meeting on Jekyll Island?
Nelson Aldrich, A. Piatt Andrew, Henry Davison, Arthur Shelton, Frank Vanderlip, Paul Warburg, Benjamin Strong
John Rockefeller, J.P. Morgan, Andrew Carnegie, Henry Ford, Thomas Edison, Alexander Graham Bell, Nikola Tesla
George Washington, Thomas Jefferson, John Adams, Benjamin Franklin, Alexander Hamilton, John Jay, James Madison
Winston Churchill, Franklin D. Roosevelt, Joseph Stalin, Harry Truman, Dwight D. Eisenhower, Charles de Gaulle, Douglas MacArthur
"The Fed" refers to the....
Federal Bureau of Investigation
Federal Government
Federal Reserve System/Bank
Federal Income Tax
Why should the Federal Reserve System be abolished?
The Federal Reserve System is a benefit to the U.S. and should not be abolished
Central Banks are proven to be the best way to stabilize an economy
It is a cartel operating against the public interest
Fiat currency is the best form of money
Jekyll island is a fictitious place that doesn't really exist.
True
False
The IRS is an abbreviation that stands for what?
Internal Relations Service
Internal Retrieval Service
Internal Reaction Service
Internal Revenue Service
