Question

How many members are on the federal reserve board of governors?

a. 6
b. 7
c. 9
d. 12 user: the fed decides the percentage of __________ that banks are required to hold as reserves.
a. loans
b. deposits
c. mortgages
d. interest user: the federal reserve is responsible for overseeing all __________.
a. income tax refunds
b. changes in tax policies
c. government spending
d. depository institutions

Answer 1

1.B there can only be 7 board members
d. B ; The Fed decides the percentage of deposits that banks are required to hold as reserves. This came about after the Great Depression, when a "run on the banks" left many banks with no money left to give their investors
d. C:: The "Fed" is a government institution responsible for: overseeing the issue of currency, regulating bank activity, and
providing banking services to the nation's commercial banks.