Which of the following statements is correct regarding the Fed?
a. Under the Federal Reserve System, there is one Federal Reserve Bank, located in Washington D.C.
b. Under the Federal Reserve System, there is one Federal Reserve Bank whose location changes every 14 years.
c. Under the Federal Reserve System, there is a Federal Reserve Bank in each Congressional district.
d. Under the Federal Reserve System, there is a Federal Reserve Bank in each state.
e. Under the Federal Reserve System, there are 12 Federal Reserve banks, one in each of the 12 Federal Reserve districts.
Question 2
Over the last century, U.S. labor productivity has:
a. fallen.
b. been constant, on average.
c. grown at about 2 percent per year.
d. grown at about 8 percent per year.
e. grown at about 15 percent per year.
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