Members of the Board of Governors of the Federal Reserve

question 45

Multiple Choice

Members of the Board of Governors of the Federal Reserve are

• A) appointed by the outgoing chairman of the Board of Governors and confirmed by Congress.
• B) appointed by the president of the United States.
• C) elected by the stockholders of the eight largest banks in the United States.
• D) appointed by the Treasury Secretary.

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Definitions:

Home Mortgage

A loan provided by a lender or financial institution to purchase a house, where the property itself is used as collateral.

Wealth Taxes

Taxes levied on the total value of personal assets, including real estate, bank deposits, shares, and other forms of property.

Ad Valorem Taxes

Ad valorem taxes are taxes based on the assessed value of real estate or personal property, commonly used in property tax.

Real Estate

Property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water.