Which of the following statements best describes the political control of the Federal Reserve?
a. Policy decisions of the Fed do not require congressional approval, and the president cannot ask for the resignation of a Federal Reserve governor as the president can with cabinet positions.
b. Policy decisions of the Fed require congressional approval, but the president cannot ask for the resignation of a Federal Reserve governor as the president can with cabinet positions.
c. Policy decisions of the Fed do not require congressional approval, and the president can ask for the resignation of a Federal Reserve governor as the president can with cabinet positions.
d. Policy decisions of the Fed require congressional approval, and the president can ask for the resignation of a Federal Reserve governor as the president can with cabinet positions.
a. Policy decisions of the Fed do not require congressional approval, and the president cannot ask for the resignation of a Federal Reserve governor as the president can with cabinet positions.
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When consumers cannot tell the difference at the time of sale between high-quality products and those with defects, strong sales of the low-quality products will tend to depress price and drive the high-quality products from the market. Economists call this
a. the curse of advertising. b. the imperfect information problem. c. the brand name problem. d. an open-access resource.
If the demand for hand-sewn leather shoes increases, it is likely the demand for leather will:
A. also increase. B. decrease slightly. C. stay the same. D. drop significantly and producers will use another material.