1 Even though the Fed was created in 1913, while we were still on the gold standard,...
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Question:
1
- Even though the Fed was created in 1913, while we were still on the gold standard, it didn’t need to hold any gold reserves for the notes it created.
True
False
True
False
1 points
QUESTION 2
- From 1914 until 1920, the level of total bank demand deposits (checking accounts) rose by over two hundred percent, while currency in circulation hardly changed at all, rising only by 5.4%.
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False
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QUESTION 3
- The most powerful figure in the early Fed was Benjamin Strong, Governor of the Boston Federal Reserve Bank.
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False
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QUESTION 4
- It is rare that a central bank will have as one of its duties the regulation of commercial banks.
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False
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QUESTION 5
- As noted in the text, we are most in need of a central bank to regulate the money supply when we have fixed exchange rates.
True
False
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QUESTION 6
- There are 49 Federal Reserve District Banks, one in every state except for Alaska.
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False
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QUESTION 7
- Among other important central banks around the world are the European Central Bank and the Bank of England.
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False
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QUESTION 8
- Among the various characteristics that would tell someone that a central bank has a high degree of independence is if it has control over its own budget.
True
False
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