Which of the Following Is True of the Fed

question 71

Multiple Choice

Which of the following is true of the Fed?

• A)The law lets the Fed decide how best to promote full employment and output in the U.S.economy.
• B)It relies heavily on Congressional appropriations.
• C)The president sits on the Board of Governors.
• D)Congress must approve any new monetary policy.
• E)The president must approve any new monetary policy.

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Definitions:

Imports

Foreign goods and services purchased by domestic customers.

Domestic Consumers

Individuals or households within a country that purchase goods and services for personal use as opposed to international or business consumers.

Foreign-made

This term describes products that are produced outside of one's home country.

Trade Deficit

A situation in which a country's imports of goods and services exceed its exports, leading to more money flowing out of the country than coming in from foreign markets.