04.03 How Does the Fed Affect Me Quiz – Flashcards

Which organization provides leadership for the Federal Reserve System? A. Board of Governors B. Congress C. Department of the Treasury D. Federal Free Market Committee

Which organization sets monetary policy for the United States? A. Board of Governors B. Congress C. Federal Open Market Committee D. Federal Reserve Banks

Which event involves a function of the Federal Reserve System? A. To increase employment, the Fed channels currency into an ambitious space-exploration program B. To increase national security, the Fed extends loans to technology development companies C. To promote economic growth, the Fed lifts home-loan restrictions on people with student-loan debt D. To promote price stability, the Fed breaks up a monopolistic international corporation

In which of the following scenarios are the Federal Reserve Banks most likely to intervene? A. A committee forms to create new consumer protections laws B. A potential homeowner applies for a mortgage C. Several member banks run low on currency and coin D. Officials meet to debate presidential policy regarding economic expansion

In which of the following scenarios would the Board of Governors be most likely to intervene? A. Economic data for the year are released and require analysis B. Congress enacts higher taxes for business C. Consumers demand tax-reform legislation D. President campaigns for consumer protections