There is only one correct answer per question. select the best answer, even when there are other correct answers.
1 If the Fed reduces a commercial bank s reserve requirements the commercial bank can
a lend the extra reserve to the Fed
b Use the extra reserve to create more money
c eliminate its need for overnight lending
d use the extra reserve amount for facility expansion
2 Economics is about
b how to best use money
c resource allocation
d deciding who is affected by taxation
3 The Fed Chairman is
a elected for up to . . .
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