The Members of the Board of Governors of the Fed

question 106

Multiple Choice

The members of the Board of Governors of the Fed are _____

• A) elected by the member banks.
• B) chosen by the state governors.
• C) elected for seven-year terms.
• D) all replaced after each presidential election.
• E) appointed by the president with the approval of the Senate.

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Definitions:

Breach of Contract

The act of not executing any part of a contract, be it written or oral, without an acceptable legal excuse.

Contract

A legally binding agreement between two or more parties, which outlines obligations and rights related to a particular arrangement or deal.

Automatic Weaving Machine

A mechanical device that automates the process of weaving textiles, reducing manual labor and increasing production efficiency.

Finance Company

A business that provides loans to individuals or companies, typically specializing in areas such as consumer finance, leasing, and commercial lending.