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The Federal Open Market Committee: Definition & Members

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

How many members does the FOMC have?

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1. What is the primary tool used by the FOMC to influence interest rates?

2. Which of the following regarding the Fed Funds Target Rate is true?

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About This Quiz & Worksheet

Learn more about the Federal Open Market Committee, what they do, and how they do it when you utilize this helpful quiz and worksheet with our lesson. Master the basic information about this committee before moving on to other, more involved topics.

Quiz & Worksheet Goals

This worksheet and quiz will assess your knowledge of the following:

  • The members of the Federal Open Market Committee
  • Special positions in FOMC
  • How and when the FOMC operates
  • Fed Funds Target Rate

Skills Practiced

Use these skills when working with the worksheet and quiz:

  • Making connections - use your understanding of the relationship between bonds and interest rates
  • Information recall - access the knowledge you've gained regarding the members of the FOMC
  • Defining key concepts - ensure that you can accurately define main phrases, such as Federal Funds Target Rate

Additional Learning

To learn more about this topic, please be sure to check out the corresponding lesson on the Federal Open Market Committee: Definition & Members. This lesson will prepare you to:

  • Describe who makes up the FOMC, how often they gather, and what their role is
  • Discuss why the FOMC might decide to raise or lower interest rates
  • Explain the correlation between interest rates, bonds, and monetary supply
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