Emphasize and explain the case for and against an independent Reserved Bank ”central bank”

Question 1: [10 points]

Emphasize and explain the case for and against an independent Reserved Bank ”central bank”

Question 2: [10 points]

Describe two ways in which financial intermediaries help lower transaction costs in the economy.

Question 3: [10 points]

The World trade Center in New York City on Tuesday, September 11, 2001—the worst terrorist incident in U.S. history.
Explain why the terrorists were able to bring down the twin towers of the World Trade Center, with nearly 3,000 dead. However, but they were unable to bring down the U.S. financial system

Question 4: [10 points]

Most of the time, we are advised that the Fed has just lessened the discount rate. Does this infer that the Fed is moving to a more expansionary monetary policy? Why or why not?