1. Describe the overall structure of the U.S. Federal Reserve System. Provide 3 characteristics of the Fed in your response. An example of one of the many characteristics is that the Fed was created under the Federal Reserve Act of 1913. This is what I am looking for (simple and basic fact) but please do not use this one (1913) anymore........ Be creative on your own answers. 1 point

2. Define Barter System and be sure to provide an example of what participants under such system would have to do for transactions to be completed. 1 point

3. What are the options available to monetary policy makers if the economy is experiencing a "recessionary GDP gap?" 1 point

4. Define the following terms in your own; 6 points (1 point each) (a) Federal Funds Rate (b) Discount Rate (c) Prime Rate (d) Excess Reserves (e) What does M1 consist of (f) Tell me about the FDIC as much as you can (g)Give me some of your personal assessments of this class so far - both positive or negative.