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The Federal Reserve Is Under the Ultimate Direction of the Congress

question 48

True/False

The Federal Reserve is under the ultimate direction of the Congress of the United States because Congress can cut the budget of the Federal Reserve if the Federal Reserve Board of Governors does not follow the instructions of Congress.


Definitions:

Compensation Costs

The total expenses incurred by an employer to provide wages, salaries, and benefits to employees.

Budgeted Costs

The estimated financial expenditure allocated for specific purposes during a predetermined timeframe.

Net Profit

The amount of money that remains from revenues after all operating expenses, taxes, and costs have been subtracted.

Compensation System

A structured approach to providing financial and non-financial rewards to employees, aimed at attracting, maintaining, and motivating a skilled workforce.

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