The Voting Members of the FOMC Are

question 18

Multiple Choice

The voting members of the FOMC are

• A)the governors of the Federal Reserve Board and the president of the United States.
• B)the governors of the Federal Reserve Board and the president of the New York Fed.
• C)the governors of the Federal Reserve Board and 5 of the 12 Federal Reserve district bank presidents.
• D)the governors of the Federal Reserve Board and the 12 Federal Reserve district bank presidents.
• E)the governors of the Federal Reserve Board, 5 of the 12 Federal Reserve district bank presidents, and the secretary of the Treasury.

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Definitions:

Last Payment

The final installment of a payment plan, completing the obligation to pay off a debt, loan, or financial agreement.

Monthly Billing

A billing system where charges for services or goods are invoiced or billed on a monthly basis.

Statute of Limitations

A law that sets the maximum period one can wait before filing a lawsuit, depending on the type of case or claim.

Collection Suit

A legal action taken by creditors to collect unpaid debts from a debtor through the court system.