1. "Why was the Federal Reserve System set up with twelve regional Federal Reserve banks rather than one central bank, as in other countries? 2. In what ways can the regional Federal Reserve banks influence the conduct of monetary policy? 3. Compare the structure and independence of the Federal Reserve System and the European System of Central Banks 4. What is the primary tool that Congress uses to exercise some control over the Fed? 5. "The theory of bureaucratic behavior indicates that the Fed never operates in the public interest." Is this statement true, false, or uncertain? Explain your answer. 6. List and explain the functions of Bank of Jamaica. 7. Discuss the arguments put forward for an independent Bank of Jamaica