Each of the governors of the Federal Reserve System is appointed for a term of __________ years. The Board of Governors is comprised of _____________ members and the FOMC is comprised of __________ members
A) 12; 7; 19
B) 14; 6; 22
C) 6; 5; 14
D) 14; 7; 12
E) 12; 6; 12
D
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In the table above, if the wage rate is $8.00 per hour, the profit-maximizing number of workers is
A) 1. B) 2. C) 4. D) 5.
Suppose that homemakers are included as employed in the labor force statistics, rather than being counted as out of the labor force. This would
A) increase the measured labor force participation rate. B) increase the measured unemployment rate. C) decrease the number of persons in the labor force. D) decrease the number of persons in the working-age population.
Assuming the Federal Reserve makes an open-market purchase of a government security worth $10,000 . By writing a check to pay for this security, the Federal Reserve
a. reduces the balance of its assets by $10,000. b. reduces the balance of its liabilities by $10,000. c. neither reduces the balance of its assets nor the balance of its liabilities by $10,000. d. creates a new $10,000 liability against itself. e. both c and d are correct.
Which one of the following statements concerning the National Bank Act is not true?
a. It created a national banking system. b. It created the office of the Comptroller of the Currency. c. It required banks to provide financial reports to the Comptroller of the Currency. d. It created nationally chartered banks. e. It allowed banks to accept real estate as loan collateral.