1.Explain why the Federal Reserve is less "independent" than it appears to be.
2.Compare and contrast the “tools of monetary policy” in terms of their relative usefulness.
3.How has the power structure of the Fed changed since 1913?
4.Assume the Fed pays $1000 for a government bond on the open market. With a 5% reserve requirement, what is the theoretical ultimate addition to the money supply, and why?
5.Why is changing the discount rate not a viable tool for conducting monetary policy?
6.What are margin requirements, and why do they exist?
7. What are the bodies of the Federal Reserve System?