Each Member of the Fed Board of Governors Is Appointed

question 83

Multiple Choice

Each member of the Fed Board of Governors is appointed for a term of

• A) 8 years.
• B) 12 years.
• C) 14 years.
• D) 16 years.

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Definitions:

Demand Curve

A graphical representation of the relationship between the price of a good and the quantity demanded.

Supply Curve

A graphical representation showing the relationship between the price of a good or service and the quantity of that good that suppliers are willing and able to provide.

Market

A system or an arena where parties engage in exchange of goods, services, or information.

Positive Externality

A benefit that affects a party who did not choose to incur that benefit, often associated with public goods and services.