81.How many districts does the Federal Reserve System have?
a.50
b.1
c.12
d.51
e.4
82.The Federal Reserve System
b.is under the jurisdiction of the executive branch
c.is under the control of the private banks that own it
d.is directed in its actions by the U.S. Congress
e.answers only to the judicial branch
83.A major difference between the Federal Reserve System and foreign central banks is that the
a.Fed is considered part of our government while central banks in other countries are not part of the government
b.Fed is completely independent of government influence while central banks in other countries are under government influence
c.Fed deals with less money than its foreign counterparts
d.U.S. does not have a single central bank like its foreign counterparts
e.purpose of the Fed is to make a profit while other countries' central banks exist to serve the public.
84.Commercial banks that are members of the Federal Reserve System actually choose some of the directors of the 12 Federal Reserve District banks.
a.True
b.False
85.The chairman of the Board of Governors of the Federal Reserve System is appointed by the Senate and approved by the President.
a.True
b.False
86.How long are the terms of members of the Board of Governors in the Federal Reserve System?
a.2 years
b.4 years
c.6 years
d.14 years
e.The remainder of the governor's life.
87.The most powerful person at the Fed is
a.a director of a Federal Reserve bank
b.a member of the Board of Governors
c.a district bank president
d.the president of the U.S.
e.the chairman of the Board of Governors
88.The Federal Open Market Committee (FOMC) controls the U.S. money supply by buying and selling loans in the public loan market.
a.True
b.False
89.The group within the Federal Reserve System that determines the general course for the nation's money supply is the
a.Federal Monetary Oversight Committee
b.Federal Advisory Council
c.Board of Governors
d.Department of Commerce
e.Federal Open Market Committee
90.The Federal Open Market Committee is important because
a.its deliberations are extremely private
b.it sets the course for the nation's money supply
c.it is composed of people who are most knowledgeable about the economy
d.it discusses
e.of its influence on fiscal policy
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