Checks are cleared between private banks by:
A. The 12 regional Federal Reserve banks.
B. The Executive Branch of government.
C. The Federal Reserve Board of Governors.
D. State banking commissions.
A. The 12 regional Federal Reserve banks.
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The federal income tax in the United States is
A) regressive. B) proportional. C) progressive. D) a flat-rate tax.
If the overall price level increases, it will cause a decrease in the quantity of real goods and services demanded but not a change in aggregate demand curve
a. True b. False Indicate whether the statement is true or false
The main reason that firms adjust their output when the price level changes is that
A. uncertainty causes a drop in output. B. taxes cause a supply-side reaction. C. their profit margins change. D. increased risks lead to a change in output. E. All of these responses are correct.
If the Fed lowers the reserve requirement, then this
A) increases excess reserves, encourages banks to make more loans, and increases the money supply. B) decreases excess reserves, causes banks to reduce their loans, and decreases the money supply. C) decreases excess reserves, causes banks to reduce their loans, and increases the money supply. D) increases excess reserves, causes banks to reduce their loans, and increases the money supply.