What is the discount rate?

the interest rate that the Fed charges banks to borrow money from them

the average discount people receive at the banks

the interest rate charged to all bank customers

What is the FOMC responsible for?

Deciding the monetary policy of the Fed

Deciding the fiscal policy of the fed

What does FOMC stand for?

Federal Operational Money Corporation

Federal Operational Market Corporation

Money should be portable. This means:

It was originally designed in a port.

It is either rectangular or circular.

Money should be durable. This means:

It must be tough so it doesn't break.

It should be cheap to mass produce.

Money should be limited. This means:

You can control how much of it is in use.

You should use items such as pebbles or leaves.

It should be either rectangular or circular.

Money should be divisible. This means:

You can use smaller pieces of it if you want.

You can cut it in half and give both pieces to a vendor.

If it's lost someone must return it to you.

It must have a picture of a president on it.

The US dollar is an example of "fiat money" which means ...

it has value because the government says it has value

its "unit of account" function is intact

its "store of value" function is intact

What role does the Federal Reserve play in controlling inflation?

It adjusts the money supply and interest rates to control inflation.

It prints more money to reduce inflation.

It sets fiscal policies to control inflation.

It has no role in controlling inflation.

Why is 'fiat money' considered valuable?

Because the government declares it to be legal tender for all debts.

Because it is backed by physical commodities like gold or silver.

Because it is scarce and hard to counterfeit.

Because it is accepted by the government for tax payments.

What is one major reason that the Fed manipulates the supply of money?

to help the leading political party

to pay for governmental programs

If the economy is threatened with a slowdown, how would you expect the Fed to respond?

increase the reserve requirement

What is the point of the multiplier?

It helps to see the ripple effect a change in spending or saving has

It helps to see how much more money we can make if we save $1

It helps to see how much more money we lose if we save $1

It helps to see how much more money the government makes

The multiplier effect shows

How spending is magnified in the economy

How much consumers can spend from their paychecks

How much the government can spend from their budget

How often the economy can survive recessions

Money + Monetary Policy 2024

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58 Qs

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Money + Monetary Policy 2024

Quiz

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Social Studies

•

9th - 12th Grade

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Practice Problem

•

Easy

Natalie Keller

Used 5+ times

FREE Resource

58 questions

Show all answers

MULTIPLE CHOICE QUESTION

1 min • 2 pts

Coins and paper bills make up the _____ of the United States.

barter

currency

debt

MULTIPLE CHOICE QUESTION

1 min • 2 pts

_____ accept deposits from depositors and lend money to businesses and consumers.

Financial institutions

Federal Reserve System

District banks

MULTIPLE CHOICE QUESTION

1 min • 2 pts

The _____ is the central bank of the United States.

Financial institutions

Federal Reserve System

District Banks

MULTIPLE CHOICE QUESTION

1 min • 2 pts

_____ carry out Fed policy and oversee banking within its district.

Financial Institutions

Federal Reserve System

District banks

MULTIPLE CHOICE QUESTION

1 min • 2 pts

_____ is the changing of the money supply to create economic growth.

Monetary policy

Fiscal year

MULTIPLE CHOICE QUESTION

1 min • 2 pts

What description best supports the function of the Federal Reserve System?

State's central bank

Nation's central bank

Locality's central bank

City's central bank

MULTIPLE CHOICE QUESTION

1 min • 2 pts

Where is the Federal Reserve located?

New York, NY

Hampton, VA

Washington D.C.

Richmond, VA

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Money + Monetary Policy 2024

58 questions

Coins and paper bills make up the _____ of the United States.

_____ accept deposits from depositors and lend money to businesses and consumers.

The _____ is the central bank of the United States.

_____ carry out Fed policy and oversee banking within its district.

_____ is the changing of the money supply to create economic growth.

What description best supports the function of the Federal Reserve System?

Where is the Federal Reserve located?

The Federal Reserve regulates banks to ensure the soundness of the banking system and safety of ______________________.

The Fed influences the money supply and interest rates in the economy to keep this low and stable-

The Federal Reserve act was signed into law by then president Woodrow Wilson in...

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