The Federal Open Market Committee Consists of the

question 46

Multiple Choice

The Federal Open Market Committee consists of the

• A)five senior members of the seven-member Board of Governors.
• B)seven members of the Board of Governors and seven presidents of the regional Fed banks.
• C)seven members of the Board of Governors and five presidents of the regional Fed banks.
• D)twelve regional Fed bank presidents and the chairman of the Board of Governors.

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Definitions:

Variable Expense

Costs that change in amount from one period to another, affected by various factors like usage or market conditions.

Recurring Expense

An ongoing financial cost that repeats at regular intervals, such as monthly or yearly.

Variable Expense

Costs or expenses that change in proportion to business activity.

Electric Bill

A monthly statement charging an individual or household for the consumption of electricity provided by a utility company.