Which of the Followings Is a Duty of the Board

question 55

Multiple Choice

Which of the followings is a duty of the Board of Governors of the Federal Reserve System?

• A) Setting margin requirements, the fraction of the purchase price of the securities that has to be paid for with cash.
• B) Setting the maximum interest rates payable on certain types of time deposits under Regulation Q.
• C) Regulating credit with the approval of the president under the Credit Control Act of 1969.
• D) All governors advise the president of the United States on economic policy.

Recognize the principle of social categorization and its effects on perception of others.

Identify and explain the operation of belief perseverance in maintaining beliefs despite contradictory evidence.

Understand the fundamental attribution error and its impact on judgment of others' behaviors.

Analyze the role of the self-serving bias in attributions of success and failure.

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Definitions:

Pay Structure

An organized system of compensating employees that defines the different levels of pay for jobs or groups of jobs within an organization.

Economic Forces

Factors that affect the behavior of consumers, businesses, and governments in the economy, such as inflation, employment rates, and GDP growth.

Product Markets

The venues or mediums where goods and services are bought and sold.

Standard Error

The standard deviation of the sampling distribution of a statistic, often estimating the precision of a sample mean relative to the population mean.