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All of the following are roles and responsibilities of the FR system except A
All of the following are roles and responsibilities of the FR system except A. Influencing supply of money B. Supervising financial institutions C. Serving as banking and fiscal agent D. Taking the money away from people 2. How many members does the board of governors have? A. 7 B. 10 C. 3 D. 1 3. Which of the following is a function of the FR system? A. To elect the president B. To clean dirty money C. Supervise and regulate banking operations D. Supervise school money 4. What is the Purpose of the board of governors? A. To provide leadership B. To provide money C. To provide education D. To provide housing 5. To supply payment services to the public is part of the A. Roles and responsibilities B. The three functions C. System structure D. Board of governors
Expert Solution
1) Taking money from people.
( Fed is the central bank of US. Its responsible for the supervision of banks. It implements monetary policy and controls money supply. However Fed doesn't take money away from people.)
2) 7
( There are 7 members of board of governors. They are nominated by the president. )
3) Supervise and regulate banking operations.
( As mentioned above Fed is USA's central bank. Its the banker's bank . lts the lender of last resort. Other banks are supposed to oblige to the regulations specified by the Fed.)
4) To provide leadership
( Board of governors is the governing body of Fed. There are 7 members. They evaluate economic scenario and take important decisions regarding money supply. They guide the monetary policy actions.)
5) The three functions
( To provide an adequate and effective payment system is one of the three functions of the Fed.)
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