Economics:
10th Edition
ISBN: 9781285859460
Author: BOYES, William
Publisher: Cengage Learning
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Question
Chapter 13, Problem 1E
To determine
(a)
To state:
The names of 12 cities where district banks are located.
Expert Solution
Explanation of Solution
The 12 cities in which district banks are located are as follows:-
- Minneapolis
- Boston
- Philadelphia
- New York
- Cleveland
- Atlanta
- Richmond
- St. Louis
- Chicago
- Dallas
- Kansas City
- San Francisco
Economics Concept Introduction
Federal Reserve System created 12 Federal Reserve district through the act of Federal Reserve Act 1913. Federal Reserve is responsible for supervising and regulating the banks to maintain financial stability. Apart from providing financial assistance to the bank, fed is responsible for adopting a
To determine
(b)
Name of the Federal Reserve district where one lives in.
Expert Solution
Explanation of Solution
For instance, Person 'A' lives in San Francisco, where the Federal Reserve Bank of San Francisco is situated.
Economics Concept Introduction
Federal Reserve System created 12 Federal Reserve district through the act of Federal Reserve Act 1913. Federal Reserve is responsible for supervising and regulating the banks to maintain financial stability. Apart from providing financial assistance to the bank, fed is responsible for adopting a monetary policy that helps in maintaining the flow of money in the market and reducing the impact of the recession.
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