ECONOMICS
MONEY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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7
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2
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12
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Each state has one.
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Detailed explanation-1: -The Twelve Federal Reserve Districts.
Detailed explanation-2: -Federal Reserve Banks The 12 districts are headquartered in Boston, New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, St. Louis, Minneapolis, Kansas City, Dallas, and San Francisco.
Detailed explanation-3: -Twelve Federal Reserve Districts operate independently but with supervision. Federal Reserve District boundaries are based on economic considerations; the Districts operate independently but under the supervision of the Federal Reserve Board of Governors.
Detailed explanation-4: -Each of the 12 Federal Reserve Banks serves its geographic district in various ways, including, but not limited to, distributing paper currency and coins, processing automated electronic payments and monitoring commercial banks to ensure compliance with regulations and banking practices.
Detailed explanation-5: -Under the Federal Reserve Act of 1913, each of the 12 regional reserve banks of the Federal Reserve System is owned by its member banks, who originally ponied up the capital to keep them running.