Which of the Following Is Not a Reason the New

question 11

Multiple Choice

Which of the following is not a reason the New York Federal Reserve Bank president always gets to vote at the Federal Open Market Committee meetings?

• A)New York is the traditional financial center of the U.S.economy.
• B)All Fed purchases and sales of bonds go through the New York Fed's trading desk.
• C)New York has higher population than other cities in the U.S.
• D)All of the above are reasons.

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Definitions:

Gross Amount

The total amount before any deductions, such as taxes, expenses, or discounts, are subtracted.

Trade Receivables

Trade receivables are amounts due to a business for goods sold or services provided on credit terms to customers.

Formal Instrument

A legal document expressing an agreement, obligation, or right enforceable by law.

Note Receivable

A financial asset representing a written promise for the repayment of a specific amount of money, plus interest, by a debtor to the lender at a future date.