1. Please evaluate the Eurocurrency markets from a social point of view. What are their major benefits and costs to the public and to market participants? In your opinion should these markets be more closely regulated or be relatively free of regulation?

2. What are the Federal Reserve's primary jobs (that is, its principal roles or functions)?

3. What is/are the principal target(s) of monetary policy?

4. What are legal reserves? Required reserves? Excess reserves? Why are these concepts important?

5. Describe the effects of the credit crisis of 2007-2009 on the powers and policies of the Federal Reserve.