Members of the Federal Reserve Systemʹs Board of Governors

question 398

Multiple Choice

Members of the Federal Reserve Systemʹs Board of Governors

• A) are elected for life.
• B) are a special subcommittee of the Senate.
• C) hold 14-year staggered terms.
• D) are elected at large by district banks.

---

Definitions:

American Football League

A professional American football league that merged with the National Football League (NFL) in 1970, now known as the AFC within the NFL.

Monopoly Status

Monopoly Status describes a situation where a single company or entity exclusively controls a particular market or industry, lacking significant competition.

Marginal Revenue

The additional income gained from selling one more unit of a product or service.

Output

The total amount of goods and services produced by an individual, firm, industry, or economy within a certain period.