19. The biggest change in the Federal Reserve\'s balance sheet between May 2007

Question

19. The biggest change in the Federal Reserve's balance sheet between May 2007 and March 2013 was the _____________ on the _____________ side of the balance sheet.

a. increase in currency outstanding; liability

b. jump in depositorry institution deposits; liability

c. decrease in repurchase agreements; asset

d. increase in gold; asset

20. Today in the Federal Reserve system, the power rests with the

a. regional federal reserve banks

b. chair of the federal reserve

c. board of governors of the federal reserve

d. member banks

21. the board of governors of the federal reserve has three primary responsibilities, which are

a. the operations of the fed, commercial bank regulation and monetary policy

b. maintenance of the gold standard, the operations of the fed, and monetary policy

c. oversight of the printing of money, commercial bank regulation, and the operations of the fed

d. monetary policy, fiscal policy, and the operations of the fed

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Explanation / Answer

19) a, increase in currency outstanding,liability (because of recession).

20) c, board of governors of the federal reserve.

21) a. operation of fed, commercial bank regulation, monetary policy.

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