Which of the following statements is true about the Board of Governors of The Fed? Each governor is appointed for a 14 year term and can be reappointed. Each governor is appointed for a 14 year term and cannot be reappointed. The Board of Governors are very much influenced by the political environment. The Board of Governors are appointed by the President and can be fired by the president. 3. (Problem 5b) Tracy Williams deposits $500 that was in her sock drawer into a checking account at the local bank. If the bank maintains a reserve ratio of 10%, how will it respond to the new deposit? The bank will hold $50 as reserves and lend $500. O The bank will hold no additional reserves and will lend $500. O The bank will hold $50 as reserves and lend $450. D . If the Fed initiates an open market sale of securities we would see.... an increase in reserves that banks have on hand. a decrease in reserves that banks have on hand. the light. a decrease in loans by banks.