Statement I: the President Appoints the Chairman of the Federal

Multiple Choice

Statement I: The president appoints the Chairman of the Federal Reserve Board at the beginning of his administration.
Statement II: The deposit expansion multiplier is the reciprocal of the reserve ratio.

A) Statement I is true and statement II is false.
B) Statement II is true and statement I is false.
C) Both statements are true.
D) Both statements are false.