ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -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-2: -The Reserve Banks are decentralized by design and are located in Boston, New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, St. Louis, Minneapolis, Kansas City, Dallas, and San Francisco.

Detailed explanation-3: -The New York Federal Reserve district is the largest by asset value. San Francisco, followed by Kansas City and Minneapolis, represent the largest geographical districts.

Detailed explanation-4: -Answer and Explanation: The answer is as follows: c. They are privately owned and publicly controlled central banks whose basic goal is to control the money supply and interest rates in promoting the general economic welfare.

Detailed explanation-5: -The Atlanta Fed territory covers the Sixth Federal Reserve District, which includes Alabama, Florida, and Georgia, and portions of Louisiana, Mississippi, and Tennessee. The Atlanta Fed has branch offices in Birmingham, Jacksonville, Miami, Nashville, and New Orleans.