Which of the Following Statements About America's Federal Monetary Policy

question 52

Multiple Choice

Which of the following statements about America's federal monetary policy is LEAST accurate?

• A)The officials most responsible for determining America's monetary policy are neither elected by the people nor directly accountable to them.
• B)Every bank chartered by the federal government or by a state must belong to the Federal Reserve System.
• C)Banks that join the Federal Reserve receive access to a number of benefits, including the right to borrow money at attractive rates.
• D)The Federal Reserve controls the supply of money in the American economy, increasing it to combat recession, shrinking it in response to inflationary trends.
• E)The Federal Reserve System has a complex structure that includes a seven-member Board of Governors and twelve regional banks.

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