The Federal Open Market Committee Consists of the

question 286

Multiple Choice

The Federal Open Market Committee consists of the

• A) Federal Reserve chairman and the other six members of the Board of Governors.
• B) Federal Reserve branch bank presidents.
• C) Federal Reserve chairman and the Federal Reserve branch bank presidents.
• D) Federal Reserve chairman, the other six members of the Board of Governors, and five of the Federal Reserve branch bank presidents.

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Definitions:

Market Demand Curve

A graph that shows the relationship between the price of a good and the quantity of that good all consumers are willing to purchase at each price level.

Consumption

The act of using goods and services for personal needs or wants.

Demand Curve

A graphical representation showing the relationship between the price of a good and the amount of it that consumers are willing to purchase at various prices.

Quantity Demanded

The total amount of a good or service consumers are willing and able to purchase at a given price in a specified period.