(14) The FOMC of the FED is responsible (has the direct authority) for a. Determining the level of required reserves for all financial institutions. b. Determining the level of the Discount Rate used by the individual Federal Reserve District Banks. c. Determining the level of open market operations held to achieve a given monetary policy goal. d. Determining the amount of money issued by the US Treasury. (15. Which of the following is NOT a true statement concerning the operation of the FOMC of the FED: a. Since the BOG and the FRDB Presidents are present and/or voting at the FOMC meetings, all Monetary Policy tools are generally discussed and determined at these meetings. b. The Reserve Requirement is seldom an "active" monetary policy tool - it has only been changed about eleven times in the 100 year history of the FED c. The Federal Reserve FOMC Policy decisions often consider, or even target, the Federal Funds Rate to achieve Monetary Policy goals. d. The Federal Reserve must receive permission from the US Treasury for all changes to Monetary Policy before implementation (taking action)