The Full Term of a Member of the Board of Governors

question 78

Multiple Choice

The full term of a member of the Board of Governors of the Fed is

• A)2 years.
• B)7 years.
• C)11 years.
• D)14 years.

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Definitions:

Trade

The exchange of goods or services between parties.

Free Trade Policy

A governmental policy aimed at eliminating barriers to trade between countries, such as tariffs and import quotas.

International Trade

The exchange of goods and services across international borders or territories, which allows countries to expand their markets for both goods and services that otherwise may not have been available domestically.

Import Restrictions

Government-imposed limits or tariffs on the number or value of goods that can be imported into a country, typically to protect domestic industries.