What is the primary task of the Federal Reserve System?
Understanding Monetary Policy and Economics

Flashcard
•
Social Studies
•
12th Grade
•
Hard
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1.
FLASHCARD QUESTION
Front
Back
To control the money supply
2.
FLASHCARD QUESTION
Front
In what year was the Federal Reserve System created?
Back
1913
3.
FLASHCARD QUESTION
Front
Which of the following is NOT a function of the Federal Reserve? Clearing checks, Supplying currency, Setting tax rates, Setting interest rates
Back
Setting tax rates
4.
FLASHCARD QUESTION
Front
Explain how the Federal Reserve influences the money supply through Open Market Operations.
Back
By buying and selling government bonds
5.
FLASHCARD QUESTION
Front
What is the effect of lowering the discount rate on the economy?
Back
It increases the money supply
6.
FLASHCARD QUESTION
Front
Describe the relationship between interest rates and inflation.
Back
Low interest rates can lead to higher inflation.
7.
FLASHCARD QUESTION
Front
What is the purpose of the bank reserve requirement set by the Federal Reserve?
Back
To ensure banks have enough cash to meet withdrawal demands
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