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Assets are

Select one:

a. legal reserves.

b. the same as net worth.

c. cash a bank owes to depositors.

d. properties, possessions, and claims on others.

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In the short run, an increase in the money supply results in

Select one:

a. economic expansion.

b. higher interest rates.

c. lower interest rates.

d. increased consumer spending.

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The Federal Reserve

Select one:

a. is made up of 12 district banks and 25 branch banks.

b. was established in 1930s.

c. is managed by a 12-member board of directors.

d. is made up of district banks that operate independently from one another.

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The Feds Federal Open Market Committee

Select one:

a. advises the Fed on the overall health of the economy.

b. is the Feds primary monetary policymaking body.

c. regulates savings and loan associations, savings banks, and credit unions.

d. advises the Fed on consumer credit laws.

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The nations monetary policy

Select one:

a. is determined by the Council of Economic Advisers.

b. almost always complements presidential and Congressional aims.

c. is tightly managed by Congress.

d. often comes under attack from politicians.