Econ 2035 chapter 13 Test Questions
Fully Solved 2026 Updated.
The chair of the federal reserve is... - Answer chosen by the president
The regional federal reserve banks are owned by... - Answer private banks which are part of
the Federal Reserve System in each region
Private banks in each region which are part of the Federal Reserve System elect... - Answer 6
members of the regional Reserve Bank's board of directors.
Who organized the Bank of the United States? - Answer Alexander Hamilton
Which groups were opposed to the Bank of the United States? - Answer southern and
western agrarian and small-business interests
Which president failed to renew the charter of the Second Bank of the United States? - Answer
Andrew Jacson
The movement to set up a central bank in the United States was spurred by the financial panic
that occurred in... - Answer 1907
Who had served as a de facto lender of last resort during the 1907 panic? - Answer JP
Morgan
The National Monetary Commission... - Answer was created by Congress to study the setting
up of a central bank.
When did the Federal Reserve Act become law? - Answer 1913
What is a way in which power was divided up in the Federal Reserve System? - Answer
Between bankers and business interests, among states and regions, between government and
private sector
What are some of the four groups of the federal reserve? - Answer Federal Reserve Banks,
Board of Governors, Federal Open Market Committee
, In 1913, Congress and the president did not envision that the Fed would control... - Answer
broad control over most aspects of money and the banking system.
How many Federal Reserve districts are there? - Answer 12
Name a city that contains a Federal Reserve Bank - Answer Dallas, Cleveland, Boston
Federal Reserve districts... - Answer cut across state and economic boundaries.
The Federal Reserve Act of 1913... - Answer specified neither the boundaries nor city
locations for the district banks.
The only state to have two Federal Reserve District Banks is... - Answer Missouri
Who owns the Federal Reserve banks? - Answer the private commercial banks in each
district which are members of the Federal Reserve System
What best describes the Federal Reserve district banks? - Answer They are private-
government joint ventures.
What statements is correct? - Answer Federal Reserve district banks pay dividends on their
earnings to member banks.
The members of Federal Reserve district bank boards of directors who are bankers are known
as... - Answer Class A directors
The members of Federal Reserve district bank boards of directors who represent the public
interest are known as... - Answer Class C directors
The members of Federal Reserve district bank boards of directors who are leaders in industry,
commerce, and agriculture are known as... - Answer Class B directors
The members of Federal Reserve district bank boards of directors appointed by the Board of
Governors are known as... - Answer Class C directors
What are some activities carried out by Federal Reserve district banks? - Answer Issuing new
Federal Reserve notes, making discount loans, examining state member banks
Fully Solved 2026 Updated.
The chair of the federal reserve is... - Answer chosen by the president
The regional federal reserve banks are owned by... - Answer private banks which are part of
the Federal Reserve System in each region
Private banks in each region which are part of the Federal Reserve System elect... - Answer 6
members of the regional Reserve Bank's board of directors.
Who organized the Bank of the United States? - Answer Alexander Hamilton
Which groups were opposed to the Bank of the United States? - Answer southern and
western agrarian and small-business interests
Which president failed to renew the charter of the Second Bank of the United States? - Answer
Andrew Jacson
The movement to set up a central bank in the United States was spurred by the financial panic
that occurred in... - Answer 1907
Who had served as a de facto lender of last resort during the 1907 panic? - Answer JP
Morgan
The National Monetary Commission... - Answer was created by Congress to study the setting
up of a central bank.
When did the Federal Reserve Act become law? - Answer 1913
What is a way in which power was divided up in the Federal Reserve System? - Answer
Between bankers and business interests, among states and regions, between government and
private sector
What are some of the four groups of the federal reserve? - Answer Federal Reserve Banks,
Board of Governors, Federal Open Market Committee
, In 1913, Congress and the president did not envision that the Fed would control... - Answer
broad control over most aspects of money and the banking system.
How many Federal Reserve districts are there? - Answer 12
Name a city that contains a Federal Reserve Bank - Answer Dallas, Cleveland, Boston
Federal Reserve districts... - Answer cut across state and economic boundaries.
The Federal Reserve Act of 1913... - Answer specified neither the boundaries nor city
locations for the district banks.
The only state to have two Federal Reserve District Banks is... - Answer Missouri
Who owns the Federal Reserve banks? - Answer the private commercial banks in each
district which are members of the Federal Reserve System
What best describes the Federal Reserve district banks? - Answer They are private-
government joint ventures.
What statements is correct? - Answer Federal Reserve district banks pay dividends on their
earnings to member banks.
The members of Federal Reserve district bank boards of directors who are bankers are known
as... - Answer Class A directors
The members of Federal Reserve district bank boards of directors who represent the public
interest are known as... - Answer Class C directors
The members of Federal Reserve district bank boards of directors who are leaders in industry,
commerce, and agriculture are known as... - Answer Class B directors
The members of Federal Reserve district bank boards of directors appointed by the Board of
Governors are known as... - Answer Class C directors
What are some activities carried out by Federal Reserve district banks? - Answer Issuing new
Federal Reserve notes, making discount loans, examining state member banks
