https://www.chicagofed.org/education/educator

1) What are the primary goals of the Federal Reserve System? [Hint: see the two goals at 0:42 to 1:20 timeframe in the video] Answer:

2) What are the three "responsibilities" of the Federal Reserve? [Hint: see, 2:10 to 2:53 timeframe in the video, particularly the slide that list the three responsibilities] Answer: 3

3) What is the "primary tool" the Federal Reserve uses to for it "monetary policy"? [Hint: see, 5:08 to 6:09 timeframe in the video] Answer:

4) Fill in the blanks: When the United States' economy "is growing too quickly and inflation is rising the Federal Reserve uses its __________ tools to ___________ the cost of borrowing..." The higher cost of borrowing "__________ the demand for goods and services..." [Hint: see, 6:10 to 7:05 timeframe in the video] Answer:

5) What is considered the "backbone" of the United States' economy? [Hint: see, 7:14 to 7:20 timeframe in the video] Answer:

6) Who reviews banks to make sure the banks are making sound loans and investment decisions? [Hint: see, 7:48 to 8:10 timeframe in the video] Answer: "Bank _______________"

7) Fill in the blanks: "A smooth and efficient ______________ system is critical to an __________ ." [Hint: see, 8:45 to 8:51 timeframe in the video] Answer: