Which of the following is false?
A) The Federal Reserve System was created in 1913.
B) The Fed is governed by the Board of Governors, whose seven members are appointed by the president to 14-year terms. The Board chair is appointed for a four-year term.
C) The FOMC is the major policy-making body and includes the seven Fed governors plus all of the Federal Reserve Bank presidents.
D) The president of the New York Federal Reserve Bank is a permanent member of the FOMC.
Correct Answer:
Verified
Q48: The Fed's main policy tool is
A)changing the
Q49: The full term of a member of
Q50: The terms of Fed governors are arranged
Q51: The term of the chairperson of the
Q52: The chairperson of the Federal Reserve Board
Q54: In which of the following cities is
Q55: The reason for the creation of 12
Q56: The FOMC is
A)the principal policy-making body within
Q57: The FOMC
A)investigates fraudulent banking practices.
B)determines the prime
Q58: How many members make up the FOMC?
A)10
B)2
C)7
D)12
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents