Which one of the following statements about the Board of Governors is not true? Each of the 7 members are appointed by the President for a 14 year non-renewable term and the Senate ratifies. Each of the 7 members are appointed by the President for a 14 year non-renewable term. Each of the 7 members are appointed by the President for a 14 year renewable term. Each of the 7 members are appointed by the President for a 14 year non-renewable term and the Chairperson is chosen out of these 7 members.
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