41) The current chairman of the Federal Reserve System is
A) Milton Friedman.
B) Alan Greenspan.
C) President Obama.
D) Ben Bernanke.
42) The chairman of the Federal Reserve's Board of Governors
A) controls the agenda of the Federal Open Market Committee meetings.
B) is the main point of contact between the Fed and the President of the U.S.
C) receives frequent background briefings on
D) All of the above answers are correct.
43) Most of the day-to-day power in monetary policy decisions lies with
A) the President of the United States
B) the Senate Banking Committee
C) the chairman of the Board of Governors
D) large commercial banks
44) On the Fed's balance sheet, assets include
A) depository institutions deposits at the Federal Reserve and loans to depository institutions.
B) U.S. government securities and loans to depository institutions.
C) Federal Reserve notes and depository institutions' deposits at the Federal Reserve.
D) Federal Reserve notes and loans to depository institutions.
45) Which of the following is an asset of the Fed?
A) loans to depository institutions
B) Federal Reserve notes
C) banks' deposits
D) Both answers B and C are correct.
46) Which of the following is NOT an asset of the Federal Reserve?
A) Federal Reserve notes
B) government securities
C) loans to depository institutions
D) None of the above are correct because they are all assets of the Federal Reserve
47) Which of the following is NOT an asset of the Federal Reserve System?
A) loans to depository institutions
B) reserves of depository institutions
C) U.S. government securities
D) None of the above are correct because they are all assets of the Federal Reserve
48) Which of the following is a liability of the Federal Reserve?
A) Federal Reserve notes
B) loans to depository institutions
C) U.S. government securities
D) U.S. coins
49) Which of the following is a liability on the balance sheet of the Federal Reserve System?
A) Federal Reserve notes
B) U.S. government securities
C) loans to depository institutions
D) None of the above are correct because they are all liabilities of the Federal Reserve
50) The monetary base is the sum of
A) U.S. Treasury notes and other government securities.
B) Federal Reserve notes, coins, and deposits of depository institutions.
C) foreign and domestic deposits at the Fed.
D) coins, currency, and checkable deposits.
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