Which part of the Federal Reserve System is made up of seven members appointed by the president?A.Federal Reserve Board of GovernorsB.Federal Reserve banksC.Federal Open Market CommitteeD.Federal Reserve Expansionary Organization

Which organization in the Federal Reserve System has 12 members and enforces the Federal Reserve's monetary policy?A.The Federal Open Market CommitteeB.The Federal Reserve Board of GovernorsC.The Federal Reserve banksD.The Federal Reserve Treasuries Organization

The Board of Governors of the Federal Reserve is comprised of Group of answer choicesseven persons, each appointed to a seven-year termseven persons, each appointed to a fourteen-year termfourteen persons, each appointed to a seven-year termtwelve persons, each appointed to a seven-year termtwelve persons, each appointed to a fourteen-year term

1. The government agency that oversees the banking system and is responsible for theconduct of monetary policy in the United States isA) the Federal Reserve System.B) the United States Treasury.C) the U.S. Gold Commission.D) the House of Representatives.2. Individuals that lend funds to a bank by opening a checking account are calledA) policyholders.B) partners.C) depositors.D) debt holders.3. Total reserves are the sum of ________ and ________.A) excess reserves; borrowed reservesB) required reserves; currency in circulationC) vault cash; excess reservesD) excess reserves; required reserves4. Assuming initially that the required reserve ratio = 10%, the currency-deposit ratio = 75%,and the excess reserve ratio = 156%, an increase in the currency-deposit ratio to 150% causesthe M1 money multiplier to ________, everything else held constant.A) increase from 0.73 to 0.78B) decrease from 0.73 to 0.61C) increase from 1.54 to 1.67D) decrease from 1.67 to 1.545. Suppose that from a new checkable deposit, First National Bank holds two million dollarsin vault cash, one million dollars in required reserves, and faces a required reserve ratio of tenpercent. Given this information, we can say First National Bank has ________ million dollarsin excess reserves.A) oneB) twoC) nineD) ten6. If the required reserve ratio is one-third, currency in circulation is $300 billion, checkabledeposits are $900 billion, and there is no excess reserve, then the M1 money multiplier isA) 2.5.B) 2.8.C) 2.0.D) 0.67.7. The interest rate the Fed charges banks borrowing from the Fed is theA) federal funds rate.B) Treasury bill rate.C) discount rate.D) prime rate.8. The monetary base minus currency in circulation equalsA) reserves.B) the borrowed base.C) the nonborrowed base.D) discount loans.

The role of the Federal Open Market Committee is to:A.establish new Federal Reserve districts.B.enforce Federal Reserve rules on banks.C.set monetary policy for the United States.D.appoint the Federal Reserve Board of Governors.

The Federal Open Market Committee includes the Board of Governors, the of the New York Fed, and Federal Reserve bank presidents from other district banks who serve on a rotating basis. (Use one word for each blank)