Identify and Describe the Different Types of Formal Organizations

question 74

Essay

Identify and describe the different types of formal organizations.

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Definitions:

Federal Reserve

The central banking system of the United States, responsible for setting monetary policy, regulating banks, and ensuring financial system stability.

President

The elected head of a republican state or the chief executive officer of a corporation or institution.

Congress

The national legislative body of a country, specifically in the United States, made up of the House of Representatives and the Senate.

Board of Governors

The leading body of a central bank system or other regulatory agency, responsible for setting policies and overseeing the institution's operations.