Executive Board Members of the European System of Central Banks

question 43

Multiple Choice

Executive board members of the European System of Central Banks are appointed by:

• A)A committee made up of bank presidents in the member countries
• B)A committee made up of heads of state of member countries
• C)The finance ministers of member countries
• D)The directors of the National Central Banks

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Definitions:

Profit

The profit achieved when the revenue generated by a business operation is greater than the expenses, costs, and taxes required to maintain that operation.

Profit-Maximizes

Refers to the strategy or the condition where a firm adjusts its production and pricing to achieve the highest possible profit.

Profit

The financial gain realized when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes needed to sustain the activity.

Profit-Maximizes

A strategy or behavior adopted by firms aiming to achieve the highest possible profit given their resources and market conditions.