ECON - Unit 5 Practice Test

Flashcard
•
Social Studies
•
12th Grade
•
Easy
Coach Copeland
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20 questions
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1.
FLASHCARD QUESTION
Front
How many District Banks are in the Federal Reserve System?
Back
12
2.
FLASHCARD QUESTION
Front
Federal Reserve Board of Governors members are appointed by the ____________ and confirmed by the ____________.
Back
President, Senate
3.
FLASHCARD QUESTION
Front
When money is used to compare the value of two different goods, it serves as a: medium of exchange, store of value, measure of purchase, standard of value
Back
standard of value
4.
FLASHCARD QUESTION
Front
Which of the following is NOT one of the functions of the Federal Reserve?
- Performing banking functions for private banks
- Setting tax rates for Corporate banks
- Regulating banks
- Conducting monetary policy
Back
Setting tax rates for Corporate banks
5.
FLASHCARD QUESTION
Front
What do Fed member banks do with customer deposits?
Back
They keep a portion as legal reserves and loan out a portion at interest.
6.
FLASHCARD QUESTION
Front
Suppose the Fed wanted to engage in an expansionary monetary policy, what should it do?
Back
Decrease the administered interest rates
7.
FLASHCARD QUESTION
Front
Monetary policy refers to what the Federal Reserve does to influence the amount of __________ and __________ in the U.S. economy.
Back
Money and credit
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