The explanatory variable about the statement above is family income. And the Response variable why families with larger incomes tend to live in homes that sell for higher prices is price of the home.
In economic and business an explanatory variable generally can be described as what you manipulate or observe changes in (e.g., caffeine dose). In the other side, the response variable generally can be described as what changes as a result (e.g., reaction times). In research, explanatory variable” and “response variable” are often interchangeable with other terms. Explanatory variables sometimes called as an independent variables.
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A promissory note: Multiple Choice Is a short-term investment for the maker. Is a written promise to pay a specified amount, usually with interest, either on demand or at a stated future date. Is a liability to the payee. Is created when a company sells its receivables to a finance company or bank. Cannot be used in payment of an account receivable
A promissory note is a written promise to pay a specified amount, usually with interest, either on demand or at a stated future date.
What is a promissory note?A promissory note is a debt instrument used by the note issuer to promise payment to the payee. The amount promised is ususally a definite amount of money and the date is usally specified. A promissory note is also known as notes payable.
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2. What is the average fee charged by large banks for using an out-of-network ATM?
These charges will typically cost between $2.00 and $3.50
Answer: Bank ATM fees vary based on your bank and the type of account you have. A 2017 Bankrate report found that that the average cost for withdrawing money from an out-of-network ATM reached a record $4.69 this fall. The average fee ATM operators charge also increased to $2.97
give me Brainiest please.
When banks have less money in required reserves they lend more money out to people and business. So Lower reserves usually help do what to the economy?
Answer:
Lower reserves increase the money supply in the economy.
Banks can either keep deposits in reserves or give them out as loans.
the lower the reserve ratio, the higher the money multiplier and the higher the money supply.
Lowering the reserves can be a form of expansionary monetary policy
Explanation:
Fractional banking is a banking system where a portion of customer's deposits is kept as reserves while remaining portion is lent out. The amount kept as reserves is determined by the required reserve ratio set by the Central bank.
If the required reserve ratio is 10% and $100 is deposited, reserves would be $10 and $90 would be lent out
Increase in the total value of checkable deposit is determined by the money multiplier
Money multiplier = 1 / reserve requirement
Increase in value of total deposit = amount deposited / reserve requirement
Assume 100 is deposited in a bank and the reserve requirement is 10%
Increase in value of total deposit = 100 / 0.1 = 1000
Imagine that the reserve is reduced to 5%
Increase in value of total deposit = 100 / 0.05 = 2000
reducing the reserve requirement increased the value of total deposit and thus the money supply in the economy
A product owner can measure success by an increase in the team's velocity
The given statement is true, that A product owner can measure success by an increase in the team's velocity.
How can a product owner make his firm more successful?A Product owner's success can be measured by an increment in the team's velocity, that also increases the quality and quantity as well, and this will lead to increase the sales, and as a result of that, the profit also increases.
The estimation of the number of Product Backlog items is estimated by the management team and this can also can complete and set a Sprint Goal.
Therefore, the given statement is true.
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Assuming government spending doesnât change with income, the tax rate is 10 percent and actual output is $200 less than potential output, what is the cyclical deficit?
The cyclical deficit can be calculated by considering the difference between actual output and potential output. In this scenario, assuming government spending remains constant with income and the tax rate is 10 percent, the cyclical deficit can be determined.
Step 1: Calculate potential output.
Potential output refers to the level of output an economy can achieve when operating at full employment. Since the question states that the actual output is $200 less than potential output, we need to determine the potential output first. Let's assume that the potential output is X.
Step 2: Calculate actual output.
Since the actual output is $200 less than potential output, we can calculate the actual output by subtracting $200 from the potential output. Therefore, the actual output is X - $200.
Step 3: Calculate the cyclical deficit.
The cyclical deficit is the difference between government spending and tax revenues when the economy is operating below its potential output. Since government spending is assumed to be constant with income and the tax rate is 10 percent, we can calculate the cyclical deficit as follows:
Cyclical Deficit = (Government Spending - Tax Revenues)
= (Government Spending - (Tax Rate * Actual Output))
= (Government Spending - (0.10 * (X - $200)))
This equation represents the cyclical deficit, taking into account the assumptions provided.
In summary, the cyclical deficit is calculated by subtracting tax revenues (which is the tax rate multiplied by the actual output) from government spending. In this scenario, where government spending doesn't change with income, the tax rate is 10 percent, and actual output is $200 less than potential output, the cyclical deficit can be represented as (Government Spending - (0.10 * (X - $200))).
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Natasha has $1000 to open a checking account. She can maintain a monthly balance of $600. She also has a savings account at the same bank. Her employer offers direct deposit and she plans to use online bill paying. She writes about eight checks per month. She currently uses the ATM machines at several different banks. Natasha sometimes overdraws her account. Bank Account Terms and Conditions Natasha wants an account with the lowest fees. Which checking account would be best for Natasha
Based on Natasha's preferences and the conditions offered by banks to her, the checking account that would be best is Account A.
Why is Account A best for Natasha?She has $600 is more than the $500 minimum balance required. She will not have to pay ATM fees for withdrawing from other bank ATMs.
She won't get charged for online bill payments and because she has a savings account, her overdraft fees would be $0. She can also write as many checks as she wants.
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Answer:
Based on Natasha's preferences and the conditions offered by banks to her, the checking account that would be best is Account A.
Explanation:
Why is Account A best for Natasha?
She has $600 is more than the $500 minimum balance required. She will not have to pay ATM fees for withdrawing from other bank ATMs.
She won't get charged for online bill payments and because she has a savings account, her overdraft fees would be $0. She can also write as many checks as she wants.
when students created detailed strategies for achieving their goals, they were increasing .
When students created detailed strategies for achieving their goals, they were increasing their chances of success and enhancing their overall performance. By formulating specific and well-defined plans, students gained clarity and direction in pursuing their objectives.
Developing detailed strategies allows students to break down their goals into manageable tasks and milestones. It helps them identify the necessary actions, resources, and timelines required to accomplish their goals. By creating a roadmap of steps to follow, students can stay focused and organized, avoiding potential distractions and setbacks.
Furthermore, detailed strategies enable students to monitor their progress effectively. They can track their performance against predetermined benchmarks and make necessary adjustments along the way.
This iterative process of planning, implementing, and evaluating strategies enhances students' motivation, self-discipline, and problem-solving skills, ultimately leading to higher levels of achievement.
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1; Choose a business or an industry that is considered as a perfect market and explain which characteristics of a perfect market are not met by this business or industry.
Answer:
hey what kind of watch is that in your profile pic
Which multimedia and interactive elements do you think would best support your viewpoint on the topic you chose for your blog? Write two to four sentences explaining what multimedia and interactivity you will use and why.
Answer:
I will use images and details from credible websites, which will boost my own credibility and support my claim. I will also use charts and graphs from trusted web resources, such as government and university sites, to make my supporting evidence clear
Explanation:
I took the test
Brainiest???
The Use of videos, audios, and images in the blog will not only make it attractive but also make it credible.
Best Way to Write BlogTo write a credible and attractive blog we need to use multimedia such as videos, images, link of credible websites. We can also use other elements which can autocorrect grammer mistakes, can easily provide best charts and graphs.
The use of these elements can give a better outlook to our blog, and also create a sense of trust and credible information.
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adrien is an employee at a local restaurant. his manager often leaves notes of appreciation after a challenging shift and sincerely thanks his employees if they cover for each other when someone calls in sick. adrien enjoys working for him and has put more effort into his job recently. this manager is effective because he uses the principles of as a tool for changing behavior.
This manager is effective because he uses the principles of operant conditioning as a tool for changing behavior.
Operant conditioning, also known as instrumental conditioning, is a type of learning that uses incentives and sanctions to shape behaviour. Through operant conditioning, a connection is established between a behaviour and a result (whether favourable or unfavourable).
Edward L. Thorndike who saw cats attempting to elude homemade puzzle boxes, conducted the first major research on operant conditioning, also known as instrumental learning. Cats could easily get out of the box by pulling a cord or pushing a pole, although they took a long time to do so when first restrained. Repeated trials resulted in fewer unsuccessful attempts and more successful ones, which allowed the cats to flee faster and faster.
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Which of the following recruitment step is demonstrated by placing an ad
within the classifieds section of a newspaper?
A. Determine availability of qualified candidates
B. Post job and implement recruitment plan
C. Develop position description
D. Identify open positions and evaluate need
Answer:
D
Explanation:
I WILL GIVE BRAINLIEST!!!
A wholesaler-especially one that promotes as well as physically distributes
products or that has an exclusive agreement is often called a
O A distributor
B. manufacturer's sales branch
O C. broker
D. drop shipper
Answer:
A . Distributor
Explanation:
I just had this question lol >.<
- mark me brainliest :0
A distributor acts as a link in the supply chain or distribution channel between a manufacturer, who produces a product, and an entity further down the line. The downstream company can either be a wholesaler or retailer, known as a value-added reseller (VAR).
Thus, option A is Correct.
What is the distributor's procedure?A distributor purchases products from a producer and sells them to customers, occasionally via stores in the distribution channel. Distributors can sell goods directly to consumers or to other firms, depending on the good or service.
A distributor is a company that buys non-competing products or product lines and resells them to customers directly. The majority of distributors also provide a range of services, including service, technical support, and warranty protection. Distributors are essential in assisting manufacturers in reaching markets that they would not otherwise be able to approach.
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name four commercial services which are useful to a manufacturer
1. Your friend asks to borrow $50 and offers to pay you back with interest. What factors
would you consider in your decision to accept or decline their request?
The factors that you have to think about would before giving out the loan would be the following:
The loan periodThe ability to pay back the loanThe interest that is on the loanHow the money is to be returned.What is a loan?This is the term that is used to refer to an amount of money that would be given to a person that is the borrower by the lender for a period pf time and for them to pay back with interest.
To be able to determine if you are to give out a loan, you have to take the ability of the person to pay you back the amount as a fator.
Also you have to check the character of the person that you are to loan the money to.
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help need this in 30 mins! 1. Describe an example of a task that it might make sense for a company to outsource. (1-2 sentences. 2.0 points)
2. Describe three things that you think are important for a company to include in its personnel policies. (1-3 sentences. 1.5 points)
3. Describe at least three pieces of information you would include when writing a job description. (1-3 sentences. 1.5 points)
4. Describe two methods you would use to find potential employees if you were in charge of advertising a job for a company. Explain why you would use these methods for advertising the job. (1-2 sentences. 3.0 points)
5. Describe at least two methods you would use to identify job opportunities if you were looking for a job. Explain why you would use these methods for job seeking. (1-2 sentences. 3.0 points)
6. Write your answers to at least three of the lesson 2 questions on what you want from your life page. (1-3 sentences. 3.0 points)
7. Describe a career you would like to have, and explain how you could get started and then advance in that career. (1=3 sentences. 3.0 points)
8. Which part of the online job application was easiest for you to complete? Which section was the most difficult? Give at least one example of work experience, education, or special skills that you included in the application. (2-5 sentences. 3.0 points) CAUTION: To protect your privacy, make sure you don't list the names of specific places where you've worked or gone to school.
1. The best example of a task that makes a lot of sense in a company to outsource its customer support which is more common than phone support. Even the costs may be high, there are many parts which employing, providing office space, and training, and paying taxes on support reps are not very high. It makes sense because it is the best way to outsource a company and to make a better approach to the client.
2. Human resources staff are tasked with keeping up-to-date personnel policies for the companies they work for. These policies govern how a business is run, from hiring and termination to policies for sexual harassment and forms of workplace discrimination. Personnel policies are given to new employees to review, and they are often asked to sign a statement saying that they read and understand the policies. Policies and procedures vary from company to company, but certain elements are common.
3.
Heading information: Where they live, where they came from, who to contact when something bad happens.Work Environment: Know what's around you, be able to know it's safe for workers.3 or 4 skills they need to have: Being able to do the work they are task with.4. I would use employee referral programs and hire for attitude and then do training for skills. Employees working in your organization can be a valuable source of knowledge need when recruiting. They have friends and acquaintances that are in the same field. Come up with a policy that will enable staff to refer suitable candidates for job positions in the company. A smart recruiter should search for attitude when recruiting employees because skills can be gained. The best candidate should show a positive attitude towards a position with the required skills which is in most cases difficult to find. The technique to employ here as a recruiter is to find a person with a positive attitude towards a job posting.
5. The 2 methods which I will use to identify job opportunities if I was looking for a job would be, internships and company websites. Internships: As I am without a job, obtaining a short space among a renowned organization is an excellent method to acquire a footing in the entrance, or produce me including valuable business connections to convene upon in the eternity. Company Websites: If I want a job and want to get to know the company better, why not check out the job part of the company’s website. If I will see opportunities on the company’s website, there is a possibility I will obtain exactly the opportunity that I have been expecting for.
6. Write your answers to at least three of the Lesson 2 questions on the What You Want from Your Life page.
So here are the questions the question is talking about:
What activities do you most enjoy?What activities do you least enjoy?What things have you never done before but want to try?What things would your job need to include in order to make you feel satisfied?What things are you especially good at?What are your weaknesses?What values are most important to you?What issues or causes do you care most about?Which people in your life are most important to you?I answered these 3:
What are your weaknesses? My weaknesses include trouble focusing, impulsiveness, lack of motivation at times, and wanting to be recognized for my efforts. Which people in your life are most important to you? My mom, my grandpa, and my best friend. I would do anything for them, and they know that. I tend to care about their wellbeing more than my own because they give me the motivation to pursue any opportunity that comes my way. What things are you especially good at? I am good at motivating and helping others. I understand my faults and always try to improve in any shape, way, or form. I am also very personable.7. I am not sure what career I want to go in so I will just say an example. If I wanted to work in the veterinary field or be an animal doctor, some steps to take to lead toward this career would be to volunteer at the SPCA or animal shelters so I can get hands-on experience and a first-hand experience on what your career would be. With the prior knowledge of the animals on your resume, it would look good and they would hire me for my prior experience.
8. The section that was the easiest was the general information page. Including your name, age, etc. The hardest section for me was the goals section because I don’t really have any concrete goals at this point in my life right now and I am stuck choosing between multiple career options. One example of an experience I had in the past was when I would volunteer at my church (when I was religious). Now I tend to act as my mother’s secretary for her job, letting her know information from a voicemail, driving her, or taking notes for her meetings.
I put a lot of time and effort into this so, I hoped this helped! :)
Graham is hiking a trail that is 512 miles long. He has hiked 358 miles so far.
Which expression shows how many miles he has left to hike? A. 512+58
B. 512+358
C. 512−58
D. 512−358
Groovy Juice Mixers, Inc. Mixes specialty drinks out of apple, guava, and papaya juices. Currently it has 1500, 800, and 800 gallons of each of these kinds of juices in inventory, respectively. Groovy currently has two products, Tropical Breeze and Guava Jive, which sell for $2. 30 and $1. 50 per gallon, respectively. Tropical Breeze is a mixture of all three ingredients that consists of 15% to 20% guava juice, and also 20% to 30% papaya juice. Guava Jive consists at least 50% and at most 60% guava. It does not have to contain papaya juice, but if it does, it may be at most 5% papaya. Assume inventory is a sunk cost, and that the costs of mixing are negligible. Therefore, Groovy's goal is to obtain the maximum possible revenue from the inventory on hand.
To do this problem you will need 6 Decision Variables:
TA = Number of Gallons of Apple Juice Used in Tropical Breeze
TG = Number of Gallons of Guava Juice Used in Tropical Breeze
TP = Number of Gallons of Papaya Juice Used in Tropical Breeze
GA = Number of Gallons of Apple Juice Used in Guava Jive
GG = Number of Gallons of Guava Juice Used in Guava Jive
GP = Number of Gallons of Papaya Juice Used in Guava Jive
Find each of the following:
TA = ___
TG = 60
TP = ___
GA = ____
GG = ____
GP = 210
Total Revenue = ____
In the given case-
TA = 450
TG = 60
TP = 290
GA = 1050
GG = 0
GP = 210
To maximize revenue, we need to determine the optimal amount of each ingredient to use in each product. We can set up the following linear programming problem:
Maximize:
2.30(TA + 0.15TG + 0.2TP) + 1.50(GA + 1.5GG + 0.8GP)
Subject to:
TA + GA <= 1500 (total amount of apple juice)
TG + GG <= 800 (total amount of guava juice)
TP + GP <= 800 (total amount of papaya juice)
0.15TG <= 0.2(TA + TP) (guava juice range for Tropical Breeze)
0.2TP <= 0.3(TA + TG) (papaya juice range for Tropical Breeze)
GA + GG + 0.05GP <= 0.6(GA + GG + GP) (guava juice range for Guava Jive)
GA + GG + GP <= 1000 (total amount of juice in Guava Jive)
The decision variables are:
TA = Number of Gallons of Apple Juice Used in Tropical Breeze
TG = Number of Gallons of Guava Juice Used in Tropical Breeze
TP = Number of Gallons of Papaya Juice Used in Tropical Breeze
GA = Number of Gallons of Apple Juice Used in Guava Jive
GG = Number of Gallons of Guava Juice Used in Guava Jive
GP = Number of Gallons of Papaya Juice Used in Guava Jive
Solving this linear program using a software solver or Excel, we get:
TA = 450
TG = 60
TP = 290
GA = 1050
GG = 0
GP = 210
Therefore, Groovy should use 450 gallons of apple juice, 60 gallons of guava juice, and 290 gallons of papaya juice in Tropical Breeze, and 1050 gallons of apple juice and 210 gallons of papaya juice in Guava Jive. The optimal revenue is:
Total Revenue = 2.30(450 + 0.15(60) + 0.2(290)) + 1.50(1050 + 1.5(0) + 0.8(210)) = $2,469.50
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Which of these situations can be handled by using the Management Information Systems?
Sometimes, there are problems in the inventory department.
At times, the organization faces problems with the performance of their products in the market.
Decision makers of the organization are not able to take proper decisions.
Employees face technical issues while feeding data into a database.
Option B. The situation that can be handled with the use of the Management Information Systems is At times, the organization faces problems with the performance of their products in the market.
What is the Management Information Systems?The study of people, technology, organizations, and their relationships is known as management information systems (MIS). MIS specialists assist businesses in getting the most out of their investments in people, technology, and operational procedures. MIS is a people-focused industry with a focus on providing services using technology.
An information system used for decision-making, as well as for the coordination, control, analysis, and visualization of information inside an organization, is known as a management information system. In an organizational setting, people, procedures, and technology are all involved in the study of management information systems.
Principal Information System Types
System for processing transactions.System for managing information.Decision Support Technologies.Master System.System for automating offices.Systems for managing knowledge.Read more on Management Information Systems
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What is the first thing the law requires you to do when you arrive at an intersection? Explain what you should do if there is an officer directing traffic.
Answer:
If a law enforcement officer if directing traffic where there are traffic lights, OBEY the officer – not the signals. You must yield the right-of-way to all other traffic and pedestrians at stop signs. Move forward only when the road is clear. At four-way signs, the first vehicle to stop should move forward first.
The very first action we do is stop at the junction as if it were a red light and waiting for police to notify you when it is safe to go.
Explanation:
If a police officer directs traffic in an area with traffic signals, respect the officer rather than the signals. At stop signs, you must surrender the right-of-way to all other cars and pedestrians. Only proceed when the road is clear. When approaching a four-way stop, the first car to halt shall proceed first.
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Investors minimize risk by investing money in __________. A. one specific company B. a variety of companies C. newly-formed corporations D. companies that are competitors Please select the best answer from the choices provided A B C D
Answer: B. a variety of companies
Explanation:
Investors minimize risk by investing money in a variety of companies. The reason for this is to minimize risk. Investing in one specific company isn't ideal because in the case of the company running at a loss, the investor loses all his or her money as well.
On the other hand, when the investor invest in different companies, the risk is minimized. When one company isn't doing well, others will probably be doing well.
Guys I love cricket and my favourite ipl team is KKR
Answer:
same pinch ☺️☺️..............
The Assured Independence Bank has offered to lend you $200,000 on a line of credit. Interest is charged at 11% and there is a commitment fee of $500. If the payment terms are 2/10 n45 what is the cost of this loan? Express the cost of this option as a simple interest rate (%+2 decimal places).
The cost of this loan is $22,500. The simple interest rate is 11.25%.
To calculate the cost of the loan, you need to determine the interest amount and add the commitment fee. The loan amount is $200,000 and the interest rate is 11%.
First, calculate the interest: $200,000 * 0.11 = $22,000.
Next, add the commitment fee: $22,000 + $500 = $22,500.
Now, you need to express the cost as a simple interest rate. To do this, divide the total cost by the loan amount: $22,500 / $200,000 = 0.1125.
Finally, multiply by 100 to convert the decimal to a percentage and round to two decimal places: 0.1125 * 100 = 11.25%.
The cost of this loan, expressed as a simple interest rate, is 11.25%.
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After reading the article on supermarket trends, what do you think? Have you noticed any of these trends over the last few years? Have you "fallen" for any of the marketing strategies used by food companies? Do you think these foods are "healthier"? Just curious.... what do you look for in a food product? What claims are important to you? Create a new thread and post your responses. (this should be 250 words minimum) Then, respond to at least 1 other student's post.
Supermarket trends have indeed been evolving over the past few years, driven by various factors such as consumer preferences, health consciousness, sustainability concerns, and technological advancements. Some prominent trends that have been observed include:
Increased focus on health and wellness: Consumers are becoming more conscious of their food choices and are seeking healthier options. This has led to a rise in demand for organic, natural, and plant-based products, as well as increased transparency in labeling and ingredient sourcing. Convenience and time-saving solutions: Busy lifestyles have contributed to the demand for convenient and ready-to-eat options. This has led to the growth of meal kits, pre-cut/prepared produce, and online grocery shopping with home delivery or pickup services. Personalization and customization: Food companies are leveraging technology to offer personalized recommendations and customizable products, catering to individual preferences and dietary restrictions.
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6. What does Rose argue should be the last part of a presentation to the VC? Why?
Rose argued that the last part of a presentation to the VC should be " a wrap-up that leads to the final pitch."
David S. Rose is a prominent angel investor famous for being the founder and Chairman Emeritus of New York Angels.
In one of his entrepreneurship discourses, Rose claimed that the last part of a presentation to the VC should be the overall presentation in a short form that would comprise the main points of the all-around presentation.
Rose concluded that these key points should be the reason to convince a Venture Capitalist to invest in the business.
Hence, in this case, it is concluded that the last part of a presentation is crucial to convince a Venture Capitalist.
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Which economic effect does a central bank hope to achieve by buying back large amounts of treasury security
A. It hopes to reduce the amount of money available for lending.
Explanation:
Usually, the central bank(Federal reserve) control the supply of money in circulation in the economy so that the nation's economy would be healthy. One of the ways through which the federal reserve controls the quantity of money in circulation is by selling or purchasing of government securities through a process known as open market operation.
If the federal reserve sells government securities such as treasury bills, in large quantities, its aim is to reduce the amount or quantity of money available to commercial banks for lending, hence mop up the quantity of money in circulation.
Also, if the federal reserve buys government securities, its aim is to make more money available in large quantities to commercial banks and other institutions, hence have more cash to lend people.
The economic effect that central bank are trying to effect by the process of buying back large amounts of treasury security is bring reduction to amount of money available for lending.
Treasury notes as well as bonds are securities that brings about payment of fixed rate of interest which is usually done every six months till the security reach a stage of maturity.The central bank do buy large amounts of treasury security so that the money that can be available for lending can be reduced.Therefore, this process are put in place to balance the economy.
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Checking account transactions are NOT reported to the credit bureaus and do not affect your credit score. Why is it still important to manage your checking account well?
Answer: Too see if anyone is stealing or charging extra fees
Explanation:
Which method for calculating a credit card balance does not take into
account the purchases made during the current billing cycle but does take
into account the payments made during the current billing cycle?
The method for calculating a credit card balance does not take into account the purchases made during the current billing cycle is known as the adjusted balance method.
What is a billing cycle?It should be noted that a billing cycle simply means the interval from the end of a billing period to another.
In this case, the method for calculating a credit card balance does not take into account the purchases made during the current billing cycle is known as the adjusted balance method.
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Answer:
previous balance method
Explanation:
yw
an employee can be dismissed if their job surplus to requirements' outline why this state ment is false
Rising interest rates have made borrowing more costly to consumers. As a result
of the most recent increase in interest rates, borrowing and consumption have
fallen throughout the economy, triggering a contractionary period. Growing
uneasy, citizens have been asking Congress to make an official statement as to
how long this contractionary period is expected to last. Which of the following is
an appropriate response?
Answer:
it depends on the measures taken to ensure that economy is stable.
Answer:
1. it is difficult to say since contractionary periods have varying lengths in different business cycles.
2. shock
3. high unemployment
4. two
5. expansion stage of the business cycle
Explanation:
just took it
the president has influence on federal reserve policy because he can replace board members at any time. he can veto any fed policy. he appoints the board members and the chair. he can fire the chair
He appoints the board members and the chair. he can fire the chair.They must be bank presidents from Federal Reserve Districts, is the explanation. Seven of the twelve members of the FOMC are from the Board of Governors. As said in the response, the remaining five are presidents of reserve banks.
The Federal Reserve Act, passed by the US Congress on December 23, 1913, established the Federal Reserve System, also known as the "Fed." The Federal Reserve began doing business in 1914, and like all central banks, it is a branch of the American government.It typically consists of twelve (12) Federal Reserve Banks located in different parts of the United States of America.The Federal Reserve, like all central banks, is a government organisation with the following duties: I. The Fed regulates the issuance of currency in the United States of America; it supports societal objectives like economic growth, low inflation, and the smooth operation of financial markets.All of the commercial banks in the country receive financial services from it, including
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