30 . Which of the following is a false statement about the structure of the Federal Reserve System?

Multiple Choice

• Banker and business interests are reflected
• State and regional interests are reflected
• Government (public) and private interests are reflected
• Exporter and importer interests are reflected

31 . The Federal Reserve Bank of New York is unique from other Reserve banks because it:

Multiple Choice

• is the only regional Bank that serves just one state.
• is the only regional Bank located in a financial center.
• is where the Federal Reserve System's portfolio is managed.
• is the oldest and therefore the largest.

32 . The primary motivation for the Fed's decision to lower interest rates at the start of the pandemic was to

Multiple Choice

• encourage spending
• prevent a liquidity crisis from developing
• to raise the U.S. dollar exchange rate
• discourage banks from requesting discount loans from the Fed

33 . The federal funds rate is stated as:

Multiple Choice

• a real interest rate.
• a nominal interest rate.
• a rate that is automatically indexed to inflation.
• the current rate less the expected rate of inflation.

34 . How many members are on the Board of Governors of the Federal Reserve System?

Multiple Choice

• Twelve, one for each district
• Seven
• Nine
• Fourteen

35 . The Governors of the Federal Reserve System are appointed by the:

Multiple Choice

• member banks from their home district.
• Board of Directors of the Reserve Bank from their home district.
• President of the United States.
• Chairman of the Federal Reserve System.

36 . The Federal Open Market Committee began operating in:

Multiple Choice

• 1913.
• 1929.
• 1914.
• 1936.

37 . Once the FOMC meetings adjourn, the public is made aware of the FOMC's decision:

Multiple Choice

• immediately after the meeting.
• forty-eight hours after the meeting adjourns.
• within five business days.
• twenty-four hours after the meeting adjourns.

38 . The Chair of the Board of Governors during the financial crisis (2007-2010) was

Multiple Choice

• Alan Greenspan
• Janet Yellen
• Jerome Powell
• Ben Bernanke