The Board of Governors of the Federal Reserve Is Comprised

question 40

Multiple Choice

The Board of Governors of the Federal Reserve is comprised of

• A) seven persons,each appointed to a seven-year term.
• B) seven persons,each appointed to a fourteen-year term.
• C) fourteen persons,each appointed to a seven-year term.
• D) twelve persons,each appointed to a seven-year term.
• E) twelve persons,each appointed to a fourteen-year term.

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Definitions:

Productivity

The measure of how efficiently inputs are converted into outputs in any production process.

Inputs

Resources used in the production process, including labor, capital, materials, and energy.

Budget

An estimation of revenue and expenses over a specified period.

Isocost Line

Graph showing all possible combinations of labor and capital that can be purchased for a given total cost.