Econ Test 3 -13 assesses knowledge on the Federal Reserve System, its operations since 1914, governance, major responsibilities, and banking mechanics. It's designed for learners to understand U. S. Economic regulations and central banking functions.
$10 million
$3.33 million
$2 million
$5 million
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United States
Federal Reserve District Bank of New York
Federal Reserve District Bank of San Francisco
U.S. Senate banking committee
None of the above
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An open market purchase of Treasury bills
An increase in the required reserve ratio
A decrease in the discount rate
All of the above
None of the above
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1834.
1896
1914
1935.
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Sells; Fed; reserves
Buys; Fed; reserves
Buys; Treasury; discount loans
Sells; Treasury; required reserve ratio
Buys; Fed; liabilities
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Seven persons, each appointed to a seven-year term.
Seven persons, each appointed to a fourteen-year term.
Fourteen persons, each appointed to a seven-year term.
Twelve persons, each appointed to a seven-year term.
Twelve persons, each appointed to a fourteen-year term.
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Controlling the money supply
Serving as the federal government's banker
Determining tax rates
Acting as a lender of last resort
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An open market purchase of Treasury bills
An increase in the required reserve ratio
A decrease in the discount rate
All of the above
None of the above
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Up; up
Up; down
Down; up
Down; down
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Reserves; fall; falls
Reserves; rise; falls
Reserves; rise; rises
Excess reserves; fall; rises
Excess reserves; rise; falls
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Open market purchases of Treasury notes
An increase in the required reserve ratio
An increase in the discount rate
All of the above
None of the above
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Bureau of Engraving and Printing.
Federal Reserve District banks.
U.S. Mint.
U.S. Treasury
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Federal government agency that collects taxes and spends these receipts on tanks, bridges, government employees' salaries, etc.
Company that delivers packages to your front door.
Central bank of the United States.
Federal government agency that collects and disseminates all the economic data that economists are interested in.
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Buys; Fed; lowers; reserves
Sells; Treasury; raises; reserves
Sells; Fed; raises; reserves
Buys; Treasury; lowers; liabilities
None of the above
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Discount
Mortgage
Reserve requirement
Federal funds
Bank-borrowing
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Clear checks.
Supervise member banks.
Serve as fiscal agent for the U.S. Treasury.
Control the money supply.
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Open market operations
The required reserve ratio
The discount rate
The term auction facility (TAF) program
Income tax rates
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New York; Board of Governors of the Federal Reserve System
Washington D.C.; FOMC
San Francisco; FOMC
New York; FOMC
Washington D.C.; Board of Governors of the Federal Reserve System
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Supplying the economy with paper money
Providing check-clearing services
Supervising member banks
Serving as fiscal agent for the Treasury
All of the above are major responsibilities of the Fed.
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The President of the United States.
Congress.
The President of the United States and Congress, jointly.
None of the above
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Bank A; rise
Bank A; remain constant
Bank B; rise
Bank B; remain constant
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Sale; decrease
Purchase; increase
Sale; increase
Purchase; decrease
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Up; up
Up; down
Down; up
Down; down
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Lowering the discount rate
Raising the required reserve ratio
An open market purchase
An open market sale
A and d
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