1. Which of these best describes the U.S. Federal Reserve? A . Is responsible fo
ID: 1253422 • Letter: 1
Question
1. Which of these best describes the U.S. Federal Reserve?
A. Is responsible for monetary policy/money supply.
B. Prints money.
C. Keeps the country out of debt.
D. Helps people in need.
E. None of the above
2. Who sets monetary policy in the United States?
A. Congress
B. President
C. U.S. Treasury
D. Federal Reserve
E. None of the above
3. The prices of meat products in a competitive market are determined by:
A. Government.
B. Business monopolies.
C. Supply and demand.
D. The Consumer Price Index.
E. None of the above
4. The purchasing power of people's incomes is most affected by:
A. The inflation rate.
B. The trade deficit.
C. The balance of payments.
D. All of the above equally
5. Who makes fiscal policy in the United States?
A. President and Congress
B. Federal Reserve
C. U.S. Treasury
D. IRS
E. None of the above
6. What is an example of fiscal policy?
A. Discount Rate Change
B. Prime Rate Change
C. Federal Income Tax Rate Change
D. All of the above.
E. None of the above
7. Which one of the following is most likely to improve the wages
of American workers?
A. An increase in business inventories.
B. An increase in productivity.
C. An increase in interest rates.
D. All of the above equally
8. What is the current national rate (percent) of civilian unemployment?
A. 1% - 3%
B. 3% - 6%
C. 6% - 9%
D. More than 9%
E. None of the above
9. Which one of the following is the most widely used measure
of inflation?
A. The Consumer Price Index.
B. The Index of Leading Economic Indicators.
C. The prime rate.
D. The Federal Funds rate.
E. None of the above
10. What is the current annual rate of inflation?
A. 1% or less
B. 2% - 3%
C. 6% - 7%
D. 10% - 12%
E. None of the above
11. What economic policy would most likely be used to combat a recession
when inflation is low?
A. An increase in taxes.
B. An increase in the money supply.
C. An increase in stock market prices.
D. None of the above
12. There is a deficit in the federal budget when:
A. Federal government spending is greater than federal tax revenues.
B. U.S. imports are greater than U.S. exports.
C. The total demand for money is greater than the total supply of money.
D. None of the above
Explanation / Answer
They're all correct.
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