Macro Economics Test

Front

How many Federal Reserve Banks are there in the United States?

Back

12

Front

Who nominates the members of the Board of Governors?

Back

The President of the United States

Front

What is the primary goal of the Federal Open Market Committee (FOMC)?

Back

To set U.S. monetary policy

Front

Which Federal Reserve Bank president is a permanent member of the FOMC? Options: The president of the Federal Reserve Bank of Dallas, The president of the Federal Reserve Bank of San Francisco, The president of the Federal Reserve Bank of New York, The president of the Federal Reserve Bank of Chicago

Back

The president of the Federal Reserve Bank of New York

Front

What is one of the key functions of the Federal Reserve System?

Back

Promoting financial system stability

Front

What is the role of the Federal Reserve in the U.S. economy?

Back

To control inflation and stabilize the currency

Front

Who is responsible for making fiscal policy decisions?

Back

The President and Congress

Front

The federal government's overall approach to spending and taxes is called

Back

Fiscal Policy

Front

The headline below indicates which type of policy: "Fed unleashes another big rate hike in bid to curb inflation"

Back

Monetary policy

Front

Taxing and Spending are tools of

Back

fiscal policy