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Chapter 13: Problem 1

The Federal Reserve System divides the nation into 12 districts. a. List the 12 cities in which the district banks are located. b. Which Federal Reserve district do you live in?

Short Answer

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Question: List the twelve cities where the Federal Reserve District Banks are located and determine which district you live in. Answer: The twelve cities where the Federal Reserve District Banks are located are Boston, New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, St. Louis, Minneapolis, Kansas City, Dallas, and San Francisco. To determine the district you live in, refer to the Federal Reserve District map (available on the Federal Reserve website) and identify your state's corresponding district number.

Step by step solution

01

Part a: Identifying the 12 Federal Reserve District Bank Cities

Begin by researching information about the 12 Federal Reserve District Banks. The cities where each of these banks are located include: 1. First District - Boston 2. Second District - New York 3. Third District - Philadelphia 4. Fourth District - Cleveland 5. Fifth District - Richmond 6. Sixth District - Atlanta 7. Seventh District - Chicago 8. Eighth District - St. Louis 9. Ninth District - Minneapolis 10. Tenth District - Kansas City 11. Eleventh District - Dallas 12. Twelfth District - San Francisco
02

Part b: Determining Your Federal Reserve District

In order to determine which Federal Reserve District you live in, locate your residential state within the United States. A map can be found on the Federal Reserve website: https://www.federalreserve.gov/aboutthefed/districts.htm By looking at the map, identify the district boundaries and match them with your state to determine the number of the Federal Reserve District you live in. Keep in mind that district boundaries are not based solely on geography, but also on economic ties and population distribution within each district.

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Most popular questions from this chapter

Briefly describe the functions that the Fed performs for the banking community. In what sense is the Fed a banker's bank?

If the Fed increases the money supply, what will happen to each of the following (other things being equal)? a. Interest rates b. Money demand c. Investment spending d. Aggregate demand c. The cquilibrium level of national income

Describe the quantity theory of money, defining cach variable. Explain how changes in the money supply can affect real GDP and the price level. Under what circumstances could an increase in the money supply have no effect on nominal GDP?

Suppose the banking system has vault cash of \(\$ 1,000\), deposits at the Fed of \(\$ 2,000\), and demand deposits of \(\$ 10,000\). a. If the reserve requirement is 20 percent, what is the maximum potential increase in the money supply, given the banks' reserve position? b. If the Fed now purchases \(\$ 100\) worth of government bonds from private bond dealers, what are the excess reserves of the banking system? (Assume that the bond dealers deposit the \(\$ 100\) in demand deposits.) How much can the banking system increase the money supply, given the new reserve position?

First Bank has total deposits of \(\$ 2,000,000\) and legal reserves of \(\$ 220,000\). a. If the reserve requirement is 10 percent, what is the maximum loan that First Bank can make, and what is the maximum increase in the money supply based on First Bank's reserve position? b. If the reserve requirement is changed to 5 percent, how much can First Bank lend, and by how much can the money supply be expanded?
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