Money and the Federal Reserve

Front

Which of these describes the Fed’s Board of Governors?

Back

There are seven of them, chosen by the president and Congress to serve fourteen-year terms.

Front

Which is a good synonym for the word barter in the term barter economy?

Back

trade

Front

States receive most of their intergovernmental revenue funds from

Back

the federal government

Front

The terms proportional, progressive and regressive refer to _____

Back

Types of taxes

Front

Taxes levied on the wages, salaries, and other income of individuals is known as

Back

Individual income tax

Front

The discount rate and the federal funds rate are both types of what?

Back

interest rates

Front

Why is the Federal Open Market Committee considered the Fed’s primary monetary policy-making body?

Back

It has the power to raise and lower interest rates.

Front

The Federal Deposit Insurance Corporation (FDIC) was created to

Back

insure customer deposits if a bank fails.

Front

How many Federal Reserve districts are there?

Back

12

Front

Which of these ensures that the U.S. government does not own the Fed? Options: Private state banks are required to buy shares in the Fed., Private state banks are not allowed to buy shares in the Fed., Private individuals are not allowed to buy shares in the Fed., Private national banks are required to purchase shares in the Fed.

Back

Private national banks are required to purchase shares in the Fed.