Which of the Following Statements Concerning the Federal Reserve Board

question 38

Multiple Choice

Which of the following statements concerning the Federal Reserve Board of Governors is true?

• A)Twelve members of the Federal Reserve Board of Governors are nominated by the president and approved by Congress to serve staggered seven year terms.
• B)Seven members of the Federal Reserve Board of Governors are nominated by the president and approved by Congress to serve staggered two year terms.
• C)Fourteen members of the Federal Reserve Board of Governors are appointed by the president to serve staggered two year terms.
• D)Seven members of the Federal Reserve Board of Governors are appointed by the president to serve staggered 14 year terms.

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Excise Tax

A tax levied on the sale of specific goods or services, often included in the price of the item such as tobacco or alcohol.

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