ECONOMICS
MONEY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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is made up of 12 district banks and 25 branch banks.
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is managed by a 12-member board of directors.
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is made up of district banks that operate independently from one another.
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None of the above
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Detailed explanation-1: -The Federal Reserve System has 12 Districts, each served by an independently chartered regional Reserve Bank. These Banks are in Atlanta, Boston, Chicago, Cleveland, Dallas, Kansas City, Minneapolis, New York, Philadelphia, Richmond, St. Louis and San Francisco. There are also 25 Branch offices within the 12 Districts.
Detailed explanation-2: -The 12 Federal Reserve Banks and their 24 Branches are the operating arms of the Federal Reserve System. Each Reserve Bank operates within its own particular geographic area, or District, of the United States.
Detailed explanation-3: -The Federal Reserve System performs five functions to promote the effective operation of the U.S. economy and, more generally, to serve the public interest. It includes three key entities: the Board of Governors, 12 Federal Reserve Banks, and the Federal Open Market Committee.
Detailed explanation-4: -There are three key entities in the Federal Reserve System: the Board of Governors, the Federal Open Market Committee (FOMC), and the 12 Federal Reserve Banks.
Detailed explanation-5: -The FOMC consists of 12 voting members-the seven governors, the president of the Federal Reserve Bank of New York, and four of the 12 Reserve Bank presidents who serve one-year terms on a rotating basis.