24. The Federal Reserve System was created in a. 1923 by the National Banking Ac

Question

24. The Federal Reserve System was created in a. 1923 by the National Banking Act c. 1933 by the Federal Banking Act d. 1946 by the National Reserve Banking Act 25. The state of Oklahoma lies in which Federal Reserve District? a. District 11 with the Federal Reserve Bank in Dallas b. District 8 with the Federal Reserve Bank in St. Louis c. District 10 with the Federal Reserve Bank in Kansas City d. District 10 with the Federal Reserve Bank in Dallas 26. Currencies of different countries are traded in what is referred to as a. The Fed b. Foreign money markets c. Foreign-exchange markets d. Exchange-rate markets 27. If an American business wishes to purchase goods from Japan, what must they do first to complete the purchase? a. They must convert yen to dollars b. They must convert dollars to yen c. They must bargain to determine the exchange rate d. The Fed will transfer the funds 28. The exchange rate of the dollar for another currency is determined by a. The supply of dollars on the market b. The demand for dollars on the market c. The supply and demand of the other currency on the market d. All of the above 29. Which of the following will NOT cause the value of the dollar to rise? a. If the demand for dollars rise b. If the supply of dollars decreases c. A major recession occurs in the United States d. Interest on U.S. securities increases 30. When one currency loses value relative to another, we say that the currency has a. Appreciated in value b. Depreciated in value c. Destabilized d. Reappreciated 31. When one currency gains value relative to another, the other currency then has a. Lost value b. Gained value c. Not changed in value d. Cannot be determined

Explanation / Answer

24. The Federal Reserve system was founded in 1913 by President Woodrow Wilson signed the federal reserve system under the federal reserve act.

So, b) In 1913 by federal reserve act

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