Which of the following statements concerning the structure of the Federal Reserve System is CORRECT?
A) The Fed's Board of Governors consists of 12 members.
B) The chairman and vice-chairman of the Board of Governors are appointed by the president and confirmed by the Senate for terms of 4 years.
C) There are 10 regional Federal Reserve banks.
D) The Federal Open Market Committee (FOMC) has seven members.
Correct Answer:
Verified
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