#1
Who is the current Chair of the Federal Reserve?
Janet Yellen
Jerome Powell
Ben Bernanke
Alan Greenspan
#2
What is the term used to describe the fraction of deposits that banks must hold in reserve?
Liquidity ratio
Reserve requirement
Capital adequacy ratio
Asset allocation ratio
#3
Which district of the Federal Reserve System is headquartered in New York?
Federal Reserve Bank of St. Louis
Federal Reserve Bank of Boston
Federal Reserve Bank of New York
Federal Reserve Bank of Dallas
#4
Which of the following is NOT a member of the Federal Reserve's Board of Governors?
Secretary of the Treasury
Chair of the Council of Economic Advisers
Chair of the Securities and Exchange Commission
President of the Federal Reserve Bank of New York
#5
What is the term for the measure of the total value of all goods and services produced in a country in a given time period?
Inflation rate
Gross Domestic Product (GDP)
Consumer Price Index (CPI)
Money supply
#6
Which President signed the Federal Reserve Act into law?
Theodore Roosevelt
Woodrow Wilson
William Howard Taft
Franklin D. Roosevelt
#7
Which of the following is NOT one of the main functions of the Federal Reserve?
Conducting monetary policy
Regulating banks
Issuing currency
Collecting taxes
#8
What is the primary tool used by the Federal Reserve to conduct monetary policy?
Open market operations
Fiscal policy
Quantitative easing
Taxation
#9
Which act established the Federal Reserve System?
Federal Reserve Act of 1913
Sherman Antitrust Act
Glass-Steagall Act
Dodd-Frank Wall Street Reform and Consumer Protection Act
#10
What is the term for the buying and selling of government securities by the Federal Reserve?
Quantitative easing
Discount window operations
Open market operations
Monetary injection
#11
Which of the following is NOT a type of Federal Reserve monetary policy tool?
Interest rate targeting
Inflation targeting
Forward guidance
Quantitative easing
#12
Which of the following is NOT a way the Federal Reserve can influence the money supply?
Open market operations
Changing reserve requirements
Issuing Treasury bills
Adjusting the discount rate
#13
What is the term for the interest rate at which the Federal Reserve lends to commercial banks?
Federal funds rate
Discount rate
Prime rate
LIBOR
#14
What is the term for the Federal Reserve's buying of long-term government securities and selling of short-term securities?
Twist operation
Liquidity swap
Hedging strategy
Market stabilization program
#15
Which of the following is NOT a characteristic of money?
Divisibility
Durability
Acceptability
Volatility
#16
What is the term for the period during which a central bank purchases or sells securities to influence the money supply?
Monetary policy
Fiscal policy
Quantitative easing
Open market operations
#17
Which of the following is NOT a component of the Federal Reserve System?
Board of Governors
Federal Open Market Committee
Congressional Budget Office
Federal Reserve Banks