Which of the Followings Is a Duty of the Board

question 55

Multiple Choice

Which of the followings is a duty of the Board of Governors of the Federal Reserve System?

• A) Setting margin requirements, the fraction of the purchase price of the securities that has to be paid for with cash.
• B) Setting the maximum interest rates payable on certain types of time deposits under Regulation Q.
• C) Regulating credit with the approval of the president under the Credit Control Act of 1969.
• D) All governors advise the president of the United States on economic policy.

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Definitions:

Tax Returns

Official documents filed with a government body that reports income, expenses, and other pertinent tax information.

Real Income

The amount of goods and services that can be bought with a unit of currency, adjusted for inflation or price changes over time.

Income Mobility

The ability of an individual, family, or some other group to improve (or lower) their economic status—often measured by income—over time.

Income Ladder

A metaphorical representation of individuals or households ranked by their level of income.