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3 Written questions

3 Multiple choice questions

  1. The coins and paper bills used as money in an economy
  2. An amount of money borrowed for a certain time period
  3. Seven people appointed by President for a 14 year terms who are responsible for running the Federal Reserve System as a whole

3 True/False questions

  1. Fractional Reserve BankingThe central bank of the US, which provides services to banks, regulates their activities, and controls the nation's monetary policy


  2. Federal Reserve SystemA system of banking whereby banks keep a percentage of checking and saving deposits in reserve, leaving the rest available for loans and investments


  3. Money SupplyA slowdown in economic activity and production