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Macroeconomics + Economy 2009 Update 18th Edition by Campbell McConnell, Sean Masaki Flynn,Stanley Brue
Edition 18ISBN: 9780077354237Macroeconomics + Economy 2009 Update 18th Edition by Campbell McConnell, Sean Masaki Flynn,Stanley Brue
Edition 18ISBN: 9780077354237 Exercise 4
Following are two hypothetical ways in which the Federal Reserve Board might be appointed. Would you favor either of these two methods over the present method Why or why not
a. Upon taking office, the U.S. president appoints seven people to the Federal Reserve Board, including a chair. Each appointee must be confirmed by a majority vote of the Senate, and each serves the same 4-year term as the president.
b. Congress selects seven members from its ranks (four from the House of Representatives and three from the Senate) to serve at its pleasure as the Board of Governors of the Federal Reserve System.
a. Upon taking office, the U.S. president appoints seven people to the Federal Reserve Board, including a chair. Each appointee must be confirmed by a majority vote of the Senate, and each serves the same 4-year term as the president.
b. Congress selects seven members from its ranks (four from the House of Representatives and three from the Senate) to serve at its pleasure as the Board of Governors of the Federal Reserve System.
Explanation
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In the actual economy, the price is infl...
Macroeconomics + Economy 2009 Update 18th Edition by Campbell McConnell, Sean Masaki Flynn,Stanley Brue
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