TOTAL Which Federal Reserve bansk is the mo in the Federal Reserve System AChica
ID: 1120723 • Letter: T
Question
TOTAL Which Federal Reserve bansk is the mo in the Federal Reserve System AChicago B. Atlanta C. St. Louis D. New York E None of the above 2. Which of the following statements about U.S currency is false? A. currency is issoed into the economy by the Federal Reserve banks B. curreney is outstanding debt of the Federal Reserve System C currency is backed by gold D. wom curency is removed from circalation and destroyed by the Federal Reserve Banks Use the following information to answer questicns 3 and 4 (all numbers are in billions): Currency (coins and paper money) 414 Checkable deposits Travelers checks Savings deposits Money market deposit accounts Money market mutual funds Small time deposits Large time deposits 314 631 962 1241 3. M2 includes each of the above items except large time deposits small and large time deposits money market deposit accounts and money market mutual fund belances M2 includes all of the above items A. B. C. D.Explanation / Answer
Ans:
1) Option E
None of the above
The Federal Reserve System is the central bank of the United States. It is operated as twelve reginal banks. These twelve regional Reserve Banks supervise state member banks as part of the Federal Reserve System's and work for ensuring the strength and stability of the economy.
2) Option C
Since 1971 U.S currency does not have any gold or silver backing.
3) Option D
M2 includes all of the above items.
M1 includes cash and checking deposits,demand deposits.
M2 includes all elements of M1 as well as near money. where near money means savings accounts, money market securities, mutual funds and other time deposits.t
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