What is the Federal Reserve System?

Instructions:

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

question 1 of 3

What are some of the objectives of the Fed?

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1. The Federal Reserve achieves its monetary goals by doing which of the following?

2. Why does the Federal Reserve require commercial banks to maintain reserves with them?

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About This Quiz & Worksheet

This quiz and worksheet will assess your understanding of the goals and duties of the Federal Reserve, the governmental body that issues money.

Quiz & Worksheet Goals

This assessment will check your knowledge of:

  • The objectives of the Fed
  • The main reason the Fed requires commercial banks to maintain reserves with them
  • What is the Federal Reserve
  • The duties of the Federal Reserve

Skills Practiced

This quiz and worksheet allow you to practice the following skills:

  • Making connections - use understanding of the concept of how the Fed issues and creates money
  • Interpreting information - verify that you can read information regarding the objectives of the Fed and interpret it correctly
  • Information recall - access the knowledge you've gained regarding how the Fed achieves its monetary goals

Additional Learning

To learn more about the Federal Reserve, review the accompanying lesson on What is the Federal Reserve System? This lesson covers the following objectives:

  • Defines the Federal Reserve
  • Details the main goals of the Federal Reserve
  • Explains how the Fed achieves its monetary goals
  • Describes the money supply
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