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Federal Reserve Monetary Policy Fiscal Policy Taxes
100 200 300 400
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100 Points How many Federal Reserve Districts are there in the United States?
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Answer = 12!!
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Ans: Which Federal Reserve District is Georgia in?
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Answer = District 6
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Ans: Which decision making body of the Federal Reserve decides when to increase the discount rate and the reserve requirement?
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Return The Board of Governors
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400 Points Who makes up the Federal Open Market Committee, who always serves on the board and how many years do they serve?
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Return The 7 Board of Governors 5 of the District Presidents
One of the 5 is the President of the New York Federal Reserve Bank They serve 14 year terms
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Answer: What are the three tools of monetary policy?
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Answer – 100 Points Open Market Operations The Discount Rate
The Reserve Requirement
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Answer If the economy is in the contractionary phase of the business cycle. How would the Federal Reserve use Open Market Operations?
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Answer 200 Points The Federal Reserve would buy bonds.
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300 Points - Answer What is the Reserve Requirement?
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Answer – 300 Points The percentage of checkable deposits the Federal Reserve Banks requires banks to hold in reserve.
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400 Points - Answer What is the definition of the Discount Rate?
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Answer – 400 Points The interest rate the Federal Reserve charges banks when banks borrow money from the Federal Reserve.
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100 Points What are the tools of Fiscal Policy?
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Answer Taxes and Government Spending
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200 Points Who is responsible for Fiscal Policy?
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Answer 200 Points Congress
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Answer If Congress was concerned about the unemployment rate getting too high, what Fiscal Policy could Congress implement?
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Answer 300 Points Congress could decrease taxes or increase Government Spending
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Answer 400 Points If Inflation is a Fiscal Policy concern, using the tools of Fiscal Policy, what steps could be taken?
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Answer – 400 Points Congress could Increase Taxes or Decrease Spending.
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Taxes 100 Points What is an example of Progressive Tax
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Taxes 100 Points Answer Federal Income Tax
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Taxes 200 Points What is an example of Regressive Tax
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Taxes 200 Points Answer Sales Tax
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Taxes 300 Points What is an example of Proportional Tax?
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Taxes 200 Points Answer Property Tax Social Security Withholding Tax
Medicare Withholding Tax
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Taxes – 300 Points What is the definition of Regressive Tax
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Taxes 300 Points - Answer A Tax that places a greater burden on those with low incomes than those with higher incomes.
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Taxes 400 Points What taxes are required to be withheld from someone’s paycheck?
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Taxes 400 Answer Medicare Tax Social Security Tax Federal Income Tax
State Income Tax (in most states) FICA – Federal Insurance Contributions Act
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