1 Which of the following is false?

		A Treasury note is a liability of the U.S. Treasury
		A Federal Reserve Note is a liability of the Federal Reserve
		A Treasury bond is a liability of the U.S. Treasury
		A dollar bill is an asset of the Federal Reserve
		A dollar bill is a liability of the Federal Reserve

2 What is the general distinction between dealers and banks?

		Dealers buy and sell securities; banks borrow and lend money
		Dealers borrow and lend money; banks buy and sell securities
		Dealers use their balance sheet for their business; banks do not
		Dealers have minimum capital requirements; banks do not