Question : 11.3 The Federal Reserve System 1) A public authority that provides : 1238038

11.3 The Federal Reserve System

1) A public authority that provides banking services to commercial banks and regulates financial institutions and markets is called a

A) commercial bank.

B) thrift institution.

C) central bank.

D) money market fund.

E) mint.

2) All of the following are financial institutions that accept deposits and make loans to people and businesses EXCEPT

A) commercial banks.

B) savings and loans.

C) credit unions.

D) central banks.

E) savings banks.

3) As the central bank, the Federal Reserve System provides banking services to

A) individuals and controls the quantity of money.

B) the government and the stock market.

C) foreign corporations and determines the exchange rate.

D) banks and regulates financial institutions and markets.

E) banks and determines how much the U.S. government will borrow.

4) Because the Federal Reserve System is a central bank, it provides banking services to

A) businesses only.

B) consumers and business.

C) commercial banks.

D) no one.

E) the government only.

5) The Federal Reserve System provides banking services to ________ because ________.

A) consumers and businesses; it is a central bank with responsibilities to the entire U.S. population

B) banks and businesses; it is a central bank with the primary purpose of regulating financial institutions and markets

C) commercial banks; it is a central bank with the primary purpose of regulating financial institutions and markets

D) no one; it is a central bank with the primary purpose of regulating financial markets

E) FDIC insured banks; they are the ones that have paid their membership fees and the only ones the U.S. central bank guarantees

6) The Fed is a central bank and as such

A) does business only with the federal government.

B) provides banking services to banks but not individuals.

C) provides banking services to individuals and firms.

D) does business with international organizations such as the United Nations.

E) is where the Federal Government turns when it needs to borrow.

7) What is the central bank of the United States?

A) There is no central bank in the United States.

B) The Department of Treasury

C) The Federal Reserve System

D) Each state has its own central bank, which, when all taken together, constitute the central bank of the United States.

E) The U.S. Mint

8) ________ the quantity of money in the United States.

A) The State Department regulates

B) The Department of Treasury regulates

C) The Federal Reserve System regulates

D) Commercial banks regulate

E) The President of the United States regulates

9) The Federal Reserve System is organized into

A) one large district covering the entire United States.

B) three districts, one for each of the countries in North America.

C) 12 districts, dividing up the United States.

D) 12 districts, dividing up the countries in North America.

E) 50 districts, one per state.

10) Conducting the nation’s monetary policy is the duty of the

A) Department of Commerce.

B) U.S. Treasury department.

C) Federal Reserve System.

D) Federation of Banks.

E) Federal Bank Supervisor.

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July 1, 2023

9.1 The United States in the International Economy

1) Following the tariff imposed on Chinese tires, some businesspeople correctly argued that the U.S. tariff would result in

A) China retaliating by raising tariffs on some U.S. exports.

B) China halting the sale of all products in the United States.

C) U.S. firms never being able to meet the demand for U.S.-produced tires.

D) the government demanding price cuts from U.S. tire manufacturers.

2) Workers in industries protected by tariffs and quotas are likely to support these trade restrictions because

A) they do not want to offend their employers who want them.

B) politicians lobby to convince workers the restrictions will make them better off.

C) they believe the restrictions will protect their jobs.

D) they don't understand that the restrictions will threaten their jobs.

3) The intention of the U.S. tariff on Chinese tires was to

A) protect jobs in the U. S. tire industry.

B) protect infant industries in tire U.S. tire market.

C) insure that Chinese tires meet U.S. quality and safety standards.

D) save the government money by restricting the sale of more expensive Chinese-made tires.

4) In the 1930s, the United States charged an average tariff rate ________. Today, the rate is ________.

A) of 100 percent; 20 percent

B) above 50 percent; less than 1.5 percent

C) of less than 10 percent; over 40 percent

D) of 17 percent; 33 percent

5) A tariff is a tax imposed by a government on

A) exports.

B) services.

C) imports.

D) luxury items.

6) Goods and services bought domestically but produced in other countries are referred to as

A) exports.

B) imports.

C) transfer payments.

D) foreign consumption.

7) Exports are domestically produced goods and services

A) sold to other countries.

B) sold to the government.

C) sold at home.

D) which are used to produce other goods and services.

8) When Roxanne, a U.S. citizen, purchases a designer dress from Barneys of New York that was made in Milan, the purchase is

A) both a U.S. and an Italian import.

B) a U.S. import and an Italian export.

C) a U.S. export and an Italian import.

D) neither an export nor an import for either country.

9) When BMW, a German company, purchases a welding machine that was made in Toronto, the purchase is

A) both a German and a Canadian import.

B) a German import and a Canadian export.

C) a German export and a Canadian import.

D) neither an export nor an import for either country.

10) Which of the following statements about the importance of trade to the U.S. economy is true?

A) Since 1950, both exports and imports have steadily decreased as a fraction of U.S. gross domestic product.

B) Overall, about 80 percent of U.S. manufacturing jobs depend directly or indirectly on exports.

C) The United States is the second largest exporter in the world.

D) The U.S. economy is highly dependent on international trade for growth in its gross domestic product.