ECONOMICS
FEDERAL RESERVE
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
true
|
|
|
false
|
|
|
Either A or B
|
|
|
None of the above
|
Detailed explanation-1: -The Federal Reserve does not own gold.
Detailed explanation-2: -Which of the following is true of the Federal Reserve System? It is the central bank of the United States, It is responsible for setting monetary policy, It is responsible for regulating the banking system. (All of the choices are correct.)
Detailed explanation-3: -The vault is safeguarded by a comprehensive multilayered security system, highlighted by a 90-ton steel cylinder protecting the only entry into the vault. The nine-foot-tall cylinder is set within a 140-ton steel-and-concrete frame that, when closed, creates an airtight, watertight seal.
Detailed explanation-4: -The correct answer is B. Monetary policy is established by the Federal Open Market Committee. The Federal Reserve System has twelve Federal Reserve banks whereby there is one represented in each Federal Reserve districts.