Title: QUIZ: World War II Through the 1960s -- The Federal Reserve and You
Course: Kelly's Copy-Export Course > Section: World War II Through the 1960s -- The Federal Reserve and You

Q: During World War II, the Federal Reserve and the U.S. Treasury Department worked together to keep________ low.
- inflation
- spending
- interest rates
- unemployment
A: interest rates

Q: During World War II, the Federal Reserve worked with the U.S. Treasury. By doing this, the Fed temporarily lost its ___________________ in setting monetary policy.
- function
- directive
- knowledge
- independence
A: independence

Q: During the Korean War, there was contention between the Federal Reserve and the Treasury Department. While the Federal Reserve wanted to ____________, the Treasury Department wanted to ______________.
- lower unemployment; limit government spending
- limit government spending; lower unemployment
- keep interest rates low; fight inflation
- fight inflation; keep interest rates low
A: fight inflation; keep interest rates low

Q: The Treasury-Fed Accord of 1951 helped to establish the Federal Reserve's goal of
- low inflation and high employment.
- low spending and low interest rates.
- cooperation with the Treasury Department.
- interdependence on private and public banking.
A: low inflation and high employment.