?Read the text below about federal reserve system.?In most of the lines 34--45 there is on
?Read the text below about federal reserve system.
?In most of the lines 34--45 there is one extra word. It is either grammatically incorrect or does not fit in with the meaning of the text. Some lines, however, are correct.
?If a line is correct, write CORRECT on your Answer Sheet.
?If there is an extra word in the line, write the extra word in CAPITAL LETTERS on your Answer Sheet.
The Federal Reserve System
Correct Commonly known as the Federal Reserve Bank or the "Fed", this is the central
Which bank of the United States which founded in 1913, it determines the Reserve
34 Requirement within limits set out by the US Congress. The function of the Fed is
35 economic stabilization operate through the management of the national money
36 supply. The Federal Reserve System comprises with a board of governors with
37 seven members both stationed in Washington D. C. The responsibilities of the
38 Fed system are carried out through 12 Regional Federal Reserve Banks
39 controlling. The members of the Fed include the commercial banks, i.e. those
40 with the national chartered commercial banks and approximately to 10% of the
41 State-chartered commercial banks. These member banks buy stock from their
42 Regional Federal Reserve Banks is the larger body of the Fed system which
43 determines what the interest rates of the USA. Through the purchasing and
44 selling of securities, the Fed is able to control the money supply. Its open-market
45 operations may well effect the reserve base, thus restricting the credit and loan market in the USA.
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