Quiz on "The Federal Reserve"




 Important Instructions for Taking Quiz

There are two kinds of questions those with circles in front of the answers and those with squares in front of the answers.  The ones with circles have only one answer.  The ones with squares can have more than one answer but might only have one answer. Lets say a question has 2 right answers and you check the correct boxes but you also check two boxes that are the wrong answer. You will get a score of zero on the question even though 2 of the answers were correct. 
 

Why was the Federal Reserve created?

To prevent financial bubbles
To provide reserve currency in times of war
To prevent runs on banks
To protect banks and their depositors

Who prevented disaster during the panic of 1907?

Otto Heinze
J. P. Morgan
Bankers who put their money into the stock exchange
The Federal Reserve

Where did bankers meet to make a plan to stop financial disaster?


Jeckyl Island
Bear Mountain
The HudsonValley

Today's Federal Reserve

Prevents financial bubbles
Creates financial bubbles

Who prints the money?

The Federal Reserve
The Bureau of Engraving and Printing
Congress
The Senate

Why doesn't the debt ceiling keep the U.S. government from borrowing more?

Because the government keep raising the debt ceiling.
Because the government suspends the debt ceiling
The debt ceiling is the ceiling of the Federal reserve building and has nothing to do with borrowing.
The debt ceiling was only there during World War I.