Chapter 3 The Federal Reserve

 “Priming the pump,” or cutting taxes to add jobs and stimulate business when economy is down

How many District Banks are in the Federal Reserve?

Economists agree that the Fed government can regulate the economy by raising or lowering taxes.

All costs of a loan needs to be provided in writing to consumers.

The rate of interest the Federal Reserve charges banks for short-term loans is called the

The current Chair of the Federal Reserve Board is____________________.

     1.   An increase in money supply and incomes often causes prices to go up as well.

The Truth in Lending Act prohibits bill collectors from using deceptive or abusive tactics.

The right of a consumer to change his or her mind about a loan

Which is not part of the on-going organizational structure of the Federal Reserve?

Which of the following attempts to protect the information that credit bureaus may collect?

Prohibits the use of race, color, religion, national origin, marital status, or age for credit

Protects information that credit bureaus, medical information companies can collect

Which of the following is NOT a function of the Federal Reserve?

The main goal of the Federal Reserve is to enforce this policy:

The term reserve ________refers to ways of readily converting bank reserves into cash.

One of the main functions of the Federal Reserve is to serve as a bank for other banks.

If the government restricts the flow of cash into the economy too severely,

Protects consumers from unfair collection techniques

By law, every bank in the United States must be part of the Federal Reserve System.