Each of the following is a function of the federal reserve system except: a. regulate banks b. control money supply c. balance federal budget d. issue federal reserve notes

- A. ) Regulate banks

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Balancing the Federal Budget is not a function of the Federal Reserve System.

Explanation:

Federal Reserve System is basically the "central banking system"  of the USA. So by looking at options, regulation of banks, controlling money supply are definitely a function. Apart from that, this Federal Reserve System also works on issuing federal reserve notes, which contain different financial information.

However, the federal budget is prepared and balanced in a different way. The Cheif Executive Office of Management and Budget makes the Federal Budget. The president reads the budget before Congress. Then, congress gives its suggestions which go to the president. The president has 10 days to reply.