I WILL BE GRATEFUL IF YOU ANSWER ALL QUESTIONS. THANKS

1 . Describe the functions of the Federal Reserve System? What role is played by the Board of Governors? What is the goal of monetary policy?

2. Describe the three main policy tolls used by the Federal Reserve? What is the federal funds rate and why is it important.

3. Explain in detail how open market operations have a direct and immediate impact on the federal funds rate and the money supply.

4. How would the Federal Reserve conduct policy if the economy faced very high unemployment rates?

5. What are some of advantages and disadvantages of monetary policy in comparison to fiscal policy?

6. Explain how a strong economy will impact interest rates in the loan market?

7. What are financial intermediaries? What do they play in the economy?