The Power Within the Federal Reserve Was Effectively Transferred to the Board

question 13

Multiple Choice

The power within the Federal Reserve was effectively transferred to the Board of Governors by

• A) the banking legislation of the Great Depression.
• B) Supreme Court decisions in the 1950s.
• C) the Depository Institutions Deregulation and Monetary Control Act of 1980.
• D) the Treasury-Federal Reserve Accord of 1951.

---

Definitions:

Marginal Revenue

The rise in income generated by selling an extra unit of a product or service.

Maximizing Profit

The process of making business decisions that increase a firm's earnings to its highest possible level.

Total Revenue

The total income a business receives from selling its goods or services, calculated by multiplying the price per unit by the number of units sold.

Competitive Firm

A company that operates in a market with many other firms, selling similar or identical products or services, where no single firm can influence market prices.