Title: QUIZ: Conducting Monetary Policy -- Fed Functions Video Series
Course: Kelly's Copy-Export Course > Section: Conducting Monetary Policy -- Fed Functions Video Series

Q: What entity mandated that the Federal Reserve accomplish goals of promoting maximum employment and promoting stable prices?
- U.S. Congress
- Federal Reserve’s Board of Governors
- Federal Open Market Committee
- Presidents of the regional Federal Reserve Banks
A: U.S. Congress

Q: The federal funds rate is an interest rate for government loans to businesses.
- True
- False
A: False

Q: Which of the following makes monetary policy decisions?
- U.S. Congress
- Federal Reserve’s Board of Governors
- Federal Open Market Committee 
- Presidents of the regional Federal Reserve Banks
A: Federal Open Market Committee 

Q: Which of the following statements is true?
- Lowering its target for the federal funds rate represents a tightening of monetary policy.
- Lowering the target for the federal funds rate is normally done when the economy is sluggish or inflation is too low.
- Raising its target for the federal funds rate represents an easing of monetary policy.
- Raising the target for the federal funds rate is normally done when the economy is sluggish or inflation is too low.
A: Lowering the target for the federal funds rate is normally done when the economy is sluggish or inflation is too low.

Q: Which of the following statements is true?
- The FOMC releases written statements after every meeting and conducts periodic press conferences.
- The FOMC policymakers focus narrowly on limited economic information in their assessments and deliberations. 
- The FOMC is not concerned with communicating its expectations or policy decisions to the public.
- The FOMC focuses mostly on how the economy will evolve long term and sets policy accordingly. 
A: The FOMC releases written statements after every meeting and conducts periodic press conferences.

Q: The Federal Reserve Board Chair testifies before congressional committees on economic developments the Fed’s actions to promote maximum employment and stable prices ____ times per year.
- 0
- 1
- 2
- 3
A: 2

Q: The Federal Reserve’s tools and approach to implementing monetary policy have remained constant for decades, but the policy goals change continually.
- True
- False
A: False