The Board of Governors of the Federal Reserve consists of seven members, each of which are
A) appointed by the president of the United States.
B) elected by the public every two years.
C) presidents of one of the 12 regional Federal Reserve Banks.
D) CEOs of commercial banks within each Federal Reserve district.
A
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Which of the following groups of countries are members of NAFTA?
A) the United States, Canada, and Mexico B) the United States, France, and Germany C) Japan, Canada, and Mexico D) the United States, Japan, and Mexico
If a small percentage decrease in the price of chocolate causes a larger percentage decrease in the quantity supplied, the
A) demand for chocolate is elastic. B) demand for chocolate is inelastic. C) supply of chocolate is elastic. D) supply of chocolate is inelastic.
There has been a decrease in investment. As a result, real GDP will ________ in the short run, and ________ in the long run
A) decrease; decrease further B) increase; decrease to its initial value C) increase; increase further D) decrease; increase to its initial level
If Coca-Cola opens a bottling plant in Brazil, what effect would it have on that country's Gini coefficient?