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
You might also like to view...
Answer the following statement true (T) or false (F)
1) If one player in a game has a dominant strategy, the other player must also have a dominant strategy. 2) A player is said to have a dominant strategy when one of the options available is superior, regardless of what strategy the other player chooses. 3) If neither player has an incentive to deviate from the outcome of a game, the outcome is a Nash equilibrium. 4) A Nash equilibrium can only occur in repeated games. 5) One characteristic of sequential games is that they all have first-mover advantages.
Suppose that the reserve ratio is 6% and applies only to checkable deposits. A bank has noncheckable time deposits of $300 million, checkable deposits of $100 million, and reserves of $8 million. What are the excess reserves of this bank?
A. $2 million B. $6 million C. $5.6 million D. $2.4 million