The Term of Office for a Member of the Federal

question 61

Multiple Choice

The term of office for a member of the Federal Reserve Board is

• A) two years.
• B) four years.
• C) seven years.
• D) 14 years.
• E) life.

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Definitions:

Saturated

A state or condition where a market has become so full or supplied to its maximum capacity that no further growth or expansion is possible.

Productive Economy

Refers to an economy that efficiently utilizes its resources to produce goods and services that meet the needs and wants of its population.

Commodity

Commodity denotes basic goods used in commerce that are interchangeable with other goods of the same type.

Allocation

The process of distributing resources, goods, or services in a particular way or to particular recipients.