Which of the Following Is NOT a Responsibility of the Board

question 67

Multiple Choice

Which of the following is NOT a responsibility of the Board of Governors?

• A)Approving bank mergers
• B)Determining permissible activities for bank holding companies
• C)Carrying out open market operations
• D)Setting the salaries of the presidents and officers of district banks

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Definitions:

Fixed Cost

Expenses that do not change with the level of goods or services produced by a business, such as rent, salaries, and insurance.

Variable

An element, feature, or factor that is liable to vary or change, often used in the context of experiments or mathematical models.

Output

The total amount of goods and services produced by an economy, company, or sector.

AVC

Average Variable Cost is the total variable costs divided by the quantity of output produced, representing the variable cost per unit of output.