Which Statement Concerning the Structure of the Federal Reserve System

question 78

Multiple Choice

Which statement concerning the structure of the Federal Reserve System is correct?

• A) The Fed's Board of Governors consists of 12 members.
• B) The chair and vice chair of the Board of Governors are appointed by the president and confirmed by the Senate for terms of 4 years.
• C) There are 10 regional Federal Reserve banks.
• D) The Federal Open Market Committee (FOMC) has seven members.

---

Definitions:

Information

Data that has been processed, organized, or structured in a way that it becomes meaningful or useful.

Communication

The process of transferring information, meaning, and understanding from one entity or group to another through the use of mutually understood signs, symbols, or language.

Unwillingness

The state of being reluctant or disinclined to do something.

Ethnic Groups

Communities or populations that share common cultural practices, ancestral origins, language, or religion, and are often identified by distinct social and cultural traits.