Which of the following statements best describes the 12 Federal Reserve Banks?
A. They are privately owned and privately controlled central banks whose basic goal is to provide an ample and orderly market for U.S. Treasury securities.
B. They are privately owned and publicly controlled central banks whose basic goal is to control the money supply and interest rates in promoting the general economic welfare.
C. They are privately owned and publicly controlled central banks whose basic goal is to earn profits for their owners.
D. They are privately owned and publicly controlled central banks whose basic function is to minimize the risks in commercial banking in order to make it a reasonably profitable industry.
Answer: B
You might also like to view...
In an open outcry Dutch auction, ________
A) the bidders begin the bidding process with a low starting bid B) the auctioneer begins the bidding process with a low starting bid C) the auctioneer begins the bidding process with a high starting bid D) the bidders decide the starting bid
What rights does ownership interest give stockholders?
What will be an ideal response?