Need an expert in macroeconomics to answer these questions.

11.) The Federal Reserve is organized

a. 12 district, dividing up the United States

b. One large district covering the entire United States

c. 12 district, dividing up the countries in North America

d. 50 districts, one per state

12.) The boards of directors of the Federal Reserve (FOMC) is

a. A seven-member board, each one serving a 14-year term

b. The collection of the 12 presidents of the Federal Reserve Bank

c. A 14-member board, each one serving a seven-year term

d. A seven-member board, each serving a one-year term

13.) Open market operations are defined as

a. The buying and selling of securities by the Fed

b. A bank borrowing from the Fed

c. The buying and selling of securities between banks

d. The amount banks can lend on each deposit

14.) An increase in the overall price level is known as

a. Inflation

b. Stagflation

c. Recession

d. Deflation

15.) Which of the following Federal Reserve banks carries out the decision of the FOMC?

a. The New York Federal Reserve Bank

b. Fort-Knox - Kentucky Federal Reserve Bank

c. The Dallas Federal Reserve Bank

d. The San Francisco Federal Reserve Bank

16.) A household that spends less than it receives in income during a given period is

a. Saving

b. Dessaving

c. Running a deficit

d. Receiving transfer payment

17.) The difference between what the government spends and what it collects in taxes is

a. The government budget or surplus

b. The government debt

c. Net taxes

d. Net revenue

18.) When the tax revenue is equal to government spending, the situation is referred to

a. A balanced budget

b. An equilibrium budget

c. An equal budget

d. An equivalent budget

19.) The annual budget is decided upon by the

a. President of the United States and United State Congress

b. United States Congress and the Federal Reserve System

c. President of the United States and United States Treasury

d. President of the United States and Federal Reserve System

20.) Real GDP decreases from 2007 to 2008. We can conclude that

a. Production levels are lower in 2008

b. Price levels are lower in 2008

c. There is less unemployment in 2008

d. We need more information before commenting