1. Over time, overall responsibility for formulating monetary policy has become
ID: 2428699 • Letter: 1
Question
1. Over time, overall responsibility for formulating monetary policy has become increasingly concentrated in the A) Federal Reserve Bank of New York. B) Council of Economic Advisors. C) Federal Deposit Insurance Corporation. D) Federal Reserve Board of Governors.
2. Members of the Board of Governors A) must resign when the President who has appointed them leaves office. B) may serve no more than three consecutive four-year terms. C) may serve for life or good behavior. D) may serve out the remainder of a vacant governor’s fourteen-year term and serve one nonrenewable fourteen-year term of their own. E) may only serve one nonrenewable fourteen-year term.
Explanation / Answer
Ans1) the correct option is D) Federal Reserve Board of Governors.
Ans2) The correct option is D) may serve out the remainder of a vacant governor’s fourteen-year term and serve one nonrenewable fourteen-year term of their own. the members of the Fed Board of governors are appointed by President of the US with the advice and consent of the Senate
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