Statement I: as Business and Banking Activity Moved West,the Congress

question 199

Multiple Choice

Statement I: As business and banking activity moved west,the Congress accommodated them by shifting a few Federal Reserve District Banks from the east and Midwest to the western states.
Statement II: A president usually gets to select the entire Federal Reserve Board that serves during his tenure.

• A)Statement I is true and statement II is false.
• B)Statement II is true and statement I is false.
• C)Both statements are true.
• D)Both statements are false.

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Definitions:

Identification

The process of recognizing or establishing the identity of a person or thing, often through specific documents or unique identifiers.

Calves

Young bovine animals, especially domestic cows or bulls in their first year.

F.O.B. New York

A contractual term indicating that the seller delivers goods, ready for shipment, to a specific location in New York, with the buyer assuming shipping costs and risk of loss.

Transport

The action or process of moving goods or people from one place to another.