Yes but you will not get the full watt rating out of the tank. Watts = amps x volts. Say the tank draws 20 amps. 20A x 240V = 4800 watts. 20A x 208V = 4160 watts. It will take longer to heat your water with less wattage.
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No.It'll overload and fail just about immediately.It's possible - but not recommended - to run two 110 v heaters in series from a 220v circuit.
208V is one standard in the US for light commercial 3-phase power. It measures 208V phase to phase and 120V phase to neutral. 230 (or 240)V refers (in the US) to the common service supplied to residential. It is single-phase, with two hots and a neutral; 120-0-120. One hot and the neutral (120V) is used for receptacles and small appliances, both hots (240V) are used for large appliances, such as stoves, ovens, air conditioning, and water heater.
There are two types of thermostats. One is a line voltage stat. This is in effect a switch and when turned to the off position the voltage is interrupted and the heater will not operate. The other type of stat is low voltage. There will be a relay in the baseboard heater that the thermostat is connected to. With this type if installation to turn the power completely off you will have to turn the breaker off that feeds the circuit.
US homes use a 240 volt single phase 'Edison' system. It is a 3-wire (4 with the ground) system. Phase to phase measures 240v, while each phase to neutral measures 120v.
when the wall thermostat closes a contact (at the set temperature), 24 volts is passed through a concave metal disk in the sequencer. The current heats the disk expanding the metal till it pops to a convex position pushing a plastic insulator rod, attached to a metal bar that closes the 208v or 240v circuit activating one of the heating elements or furnaces fan