All of the Following Help Make the Fed Independent of the Political

question 81

Multiple Choice

All of the following help make the Fed independent of the political process EXCEPT

• A)financial independence.
• B)chair of Fed receives a lifetime appointment.
• C)Board members receive a long, nonrenewable appointment.
• D)Board members' terms expire at different times, reducing the possible number of appointees by any one president.

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Definitions:

Factors Of Production

The resources used to create goods or services, typically categorized into land, labor, capital, and sometimes entrepreneurship.

Short-Run

A time period in economics during which at least one input, such as plant size, is fixed and cannot be altered by a firm to respond to market changes.

Total Economic Cost

The sum of explicit and implicit costs, representing the total expense associated with producing a good or service.

Total Revenue

The overall amount of money generated by a business from its activities, such as sales of goods or services, before any expenses are subtracted.