1) The power within the Federal Reserve was effectively transferred to the Board of Governors by...
1) The power within the Federal Reserve was effectively transferred to the Board of Governors by Select one: A. Supreme Court decisions in the 1960s. B. the Treasury-Federal Reserve Accord of 1951. C. the Depository Institutions Deregulation and Monetary Control Act of 1980. D. the Federal Reserve Act of 1935.
2)
The monetary base consists of
Select one:
A. government securities held by the Fed and discount loans.
B. currency in circulation and reserves.
C. government securities held by the Fed and currency in circulation.
D. discount loans and reserves.
Homework Answers
Q1: D
In 1935 Roosevelt enacted significant reforms to the Federal Reserve which involved movement of some powers of the Reserve Banks to the Board of Governors. Hence all other options are invalid.
Q2: B
The currency in circulation as well as that held in reserve comprises the monetary base. Government securities, and discount loans are not part of the same.
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