The feds support of the depository institutions

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20) The Fed’s support of the Depository Institutions Deregulation and Monetary Control Act of 1980 stemmed in part from its A) concern over declining Fed membership. B) belief that all banking regulations should be eliminated. C) belief that interest rate ceilings were too high. D) belief that depositors had to become more knowledgeable of banking operations. Answer: A 74
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21) Which of the following are duties of the Board of Governors of the Federal Reserve System? 22) Which of the following are not duties of the Board of Governors of the Federal Reserve System? 23) The chairman of the Board of Governors of the Federal Reserve System exercises a high degree of control over the Board 24) Members of the Board of Governors are A) chosen by the Federal Reserve Bank presidents. B) appointed by the newly elected President of the United States, as are cabinet positions. C) appointed by the President of the United States and confirmed by the Senate as members resign. D) never allowed to serve more than seven-year terms. Answer: C 75 25) Each member of the seven-member Board of Governors is appointed by the president and confirmed by the Senate to serve 26) The Board of Governors
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