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14 Cards in this Set
- Front
- Back
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the most narrow definition of money the most liquid form -currency (cash) -demand deposits (checks) -travelers checks 2.8 trillion |
m1 |
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def. of money -savings deposits -small-demoniations time deposits -money markert mutual funds 11.2 trillion
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m2 |
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government increases money supply by what two definitions of money? |
m1 and m2 |
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When was the Federal Reserve created? |
1913 (Fed. reserve act) |
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There are more district banks for the Fed reserve in what region of the US |
the East, less in the west |
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There is a ____ of each bank |
president |
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What are th4 four tasks of the Fed reserv |
1) supervises and regulates banks 2) handles check clearing 3) Hold comercial bank reserves 4) Control money supply (through monetary policy tools) |
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What are monetary policy tools |
tools through which the government controls the money supply |
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What is the Federal reserve's main function |
Control money supply |
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The Board of Governors has how many members? whos the leader? |
7 members, Janet yellen |
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What does the FOMC do? |
(Federal open market committee) -determine interest rates on loans |
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how many board of governers in FOMC |
7 |
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how many disctric presidents fomc |
5 (1 being from the fed bank reserve of New York |
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It the FOMC INDEPENDET? |
yes |
