Answer Happy

The Board of Governors of the Federal Reserve consists of seven members, each of which are O Appointed by the president of the United States O elected by the public every 2 years O presidents of one of the 12 regional Federal Reserve Banks O CEOs of commercial banks within each Federal Reserve district Question 23 1 pts The Federal Open Market Committee consists of O 12 members, each which is the president of one of the 12 regional Federal Reserve banks O the 7 members of the Board of Governors, the Chairman of the Fed, the US Treasury Secretary, and the president of the Federal Reserve Bank of New York O the chairman of the Fed, chairman of the president's council of economic advisors, the US Treasury Secretary, and 4 of the 12 Federal Reserve Bank presidents who serve on a rotating basis O the 7 members of the Board of Governors, president of the Federal Reserve Bank of New York, and 4 other Federal Reserve Bank presidents D Question 24 1 pts Suppose a bank has $200 million in checking account deposits with no excess reserves and the required reserve ratio 20%. If the Fed reduces the required reserve ratio 10%, and the bank keeps same reserves as before the change, it will now have excess reserves of O0 Million 10 million O 20 million 30 million