In Terms of the Federal Reserve System, Which of the Following

question 58

Multiple Choice

In terms of the Federal Reserve system, which of the following statements is true?

• A) The 12 Federal Reserve banks in the United States are owned by private member banks.
• B) The primary reason the Federal Reserve was created was to establish a new U.S. currency.
• C) The Federal Open Market Committee is responsible for determining the growth of the U.S. money supply.
• D) The Board of Governors consists of 12 members, each appointed for a 14-year term.
• E) The monetary actions by the Federal Reserve require congressional approval.

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Definitions:

Business Friendship

The relationship formed between a salesperson and client that revolves around business-related issues.

Personal Friendship

A relationship between individuals based on mutual affection, trust, and support, not determined by professional or business interactions.

Own Needs

The personal requirements or desires that drive an individual's purchasing decisions or actions.

Sales Success

The achievement of selling goals or objectives set by an individual or organization, often measured in terms of revenue or units sold.