The Federal Reserve Board of Governors consists of:
a. 50 members selected by state legislatures.
b. 12 members, one from each Federal Reserve District.
c. 12 members nominated by the President and confirmed by the Senate.
d. seven members elected by Congress.
e. seven members nominated by the President and confirmed by the Senate.
e
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If a price ceiling is introduced in the market for milk below the market equilibrium price, then the producer surplus made by dairy farmers
A) will increase. B) will decrease. C) will not change. D) might increase or decrease depending on whether the demand for milk increases or decreases. E) might increase or decrease depending on whether the supply of milk decreases or increases.
Enforcement of antitrust laws is the responsibility of
a. only the Department of Justice b. only the Federal Trade Commission c. only the Antitrust Division d. both the Justice Department and the Federal Trade Commission e. the President