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Federal Reserve History
Monetary Policy
Money1
Miscellaneous
100
The Federal Reserve is called ____ for short.
The Fed
100
Monetary Policy is the main job of this organization.
The Federal Reserve
100
_____ is anything the government requires be accepted as money.
Legal tender
100
The cost to borrow others' money is called _____.
interest
200
The Fed consists of _____ regional banks.
12
200
Low interest rates will ______ investment and consumption.
Increase
200
The U.S. dollar was originally backed by and exchanged for ______.
gold
200
Currency is printed here.
The U.S. Mint
300
The Board of Directors and Chairman is nominated by ______.
President of the United States
300
Rising interest rates will _______ investment and consumption.
Decrease
300
Currency unbacked by any physical commodity is called _____.
fiat currency
300
What a contractual savings institution is more commonly known as.
Insurance company.
400

Indianapolis is part of the region based out of __[city]___.

Chicago
400
Creating too much money can lead to serious _____.
Inflation
400
A ______ is when the buyer and seller both agree on what they want to exchange.
double coincidence of wants
400
Your bank deposits are insured by the federal government (FDIC) for up to _____.
$250,000
500
The Federal Reserve controls the money supply and influences the economy by setting ______.
interest rates
500
The Fed can require banks to keep more or less deposits in their vault by changing the ______.
reserve requirement
500
Most new money is created here.
banks
500
These are the five characteristics of money.
Stable in value, generally accepted, durable, divisible, portable.