Economics
SM Describe the overall structure of the US Federal Reserve System Questions

Santa Monica College

Question Description

I need an explanation for this Economics question to help me study.

Answer the following FOUR questions as thoroughly as you can. You will be graded on thoroughness as well as overall writing style.

1. Describe the overall structure of the U.S. Federal Reserve System. Provide 3 characteristics of the Fed in your response. An example of one of the many characteristics is that the Fed was created under the Federal Reserve Act of 1913. This is what I am looking for (simple and basic fact) but please do not use this one (1913) anymore........ Be creative on your own answers. 1 point

2. Define Barter System and be sure to provide an example of what participants under such system would have to do for transactions to be completed. 1 point

3. What are the options available to monetary policy makers if the economy is experiencing a "recessionary GDP gap?" 1 point

4. Define the following terms in your own words: 6 points (1 point each)
(a) Federal Funds Rate
(b) Discount Rate
(c) Prime Rate
(d) Excess Reserves
(e) What does M1 consist of
(f) Tell me about the FDIC as much as you can
(g) In a sentence or two, give me some of your personal assessments of this class so far - both positive or negative.

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Final Answer

Attached.

Running head: FEDERAL RESERVE

1

Federal Reserve
Name
Institution

FEDERAL RESERVE

2

Question 1
1. Describe the overall structure of the U.S. Federal Reserve System. Provide three
characteristics of the Fed in your response. 1 point
The U.S. Federal Reserve System is also called as the Fed, is the U.S.'s central bank, which
offers the country with both a constant economic and a financial structure. It was started by a
parliament to provide the nation with a more secure and stable financial structure. It has a
devolved operational system of twelve banks, which are reserves. The national element of the
federal reserve unit is its reserve board, which is run by seven governors who have been
nominated by the head of state and given a confirmation by the council.
The characteristics of the Fed include the monetary policy where the exposed market agency of
the Fed is the one that sets the U.S. fiscal policy to st...

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