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WorksheetsFederal Reserve System Quiz
Total questions: 10
Worksheet time: 10mins
What year was the Federal Reserve System established?
1913
1929
1965
1945
How many members are on the Board of Governors?
12
7
5
9
Which of the following is NOT a goal of the Federal Reserve?
Economic growth
Maximum employment
Currency devaluation
Price stability
Where is the Board of Governors located?
San Francisco
Washington, D.C.
Chicago
New York
What is the primary function of the Federal Open Market Committee (FOMC)?
Issue currency
Provide financial services
Regulate banks
Control monetary policy
Which tool involves buying and selling government securities?
Interest rate adjustments
Open market operations
Discount rate
Reserve requirements
What happens when the Fed lowers the discount rate?
Slows down inflation
Decreases money supply
Increases reserve requirements
Encourages borrowing and spending
What is a con of the Federal Reserve System?
Lender of last resort
Lack of full transparency
Independent from politics
Economic stability
What is the term length for a member of the Board of Governors?
14 years
10 years
8 years
4 years
Which of the following is a pro of the Federal Reserve System?
Regulates and supervises banks
Limited public accountability
Potential for economic manipulation
Political influence
