In addition to the chairman of the Board of Governors, the FOMC consists of ________
A) six rotating members of the Board of Governors and five presidents of Federal Reserve banks
B) six other members of the Board of Governors, four rotating bank presidents and the president of the New York Federal Reserve
C) six other members of the Board of Governors and five presidents of Federal Reserve banks; all twelve rotating members
D) twelve Federal Reserve Bank presidents
E) none of the above
B
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Refer to the table above. The opportunity cost per dollar of value added in stitching shoes by workers in Eduland is ________
A) $0.25 B) $0.50 C) $2 D) $4
George is considering investing in a frozen yogurt store. If the store does well he will make $20,0000, but if the store does poorly he will make only $10,000. There is a 50 percent chance of each outcome
His utility of wealth schedule is in the above table. The expected utility of this investment is A) 115. B) 140. C) 165. D) 180.