The Federal Open Market Committee Consists of the Seven Members

question 257

Multiple Choice

The Federal Open Market Committee consists of the seven members of the ________,the president of the Federal Reserve Bank of New York,and ________.

• A)Federal Reserve's Board of Governors; four members of the Council of Economic Advisors
• B)Federal Reserve's Board of Governors; four presidents from the other 11 Federal Reserve banks
• C)Council of Economic Advisors; four presidents from the 11 Federal Reserve banks
• D)Council of Economic Advisors; four members of the U.S.Banking Committee

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Definitions:

Electronic Devices

Gadgets and equipment that operate by controlling the flow of electrons or other electrically charged particles.

Efficiency Wage Model

A theory suggesting that higher wages lead to increased productivity by attracting higher quality workers and motivating all workers to avoid being fired.

Level of Employment

Refers to the number of people employed in the economy at any given time, influencing overall economic output.

Electronic Devices

Gadgets that operate on electrical energy, including computers, smartphones, and household appliances.