In 1913, Congress and the President Did Not Envision That

question 5

Multiple Choice

In 1913, Congress and the President did not envision that the Fed would control

• A)the money supply.
• B)discount loans.
• C)lender-of-last-resort activity.
• D)monetary policy.

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Definitions:

Cognitive Development

Cognitive development refers to the processes by which individuals perceive, think, and gain understanding of their world through the interaction of genetic and learned factors.

Kohlberg

Pertains to Lawrence Kohlberg, a distinguished American psychologist renowned for developing a theory that outlines the stages of moral development.

Piaget

Jean Piaget was a Swiss psychologist known for his work on child development and cognitive development theory.

Moral Judgments

Evaluations or decisions about the rightness or wrongness of actions, often guided by societal norms and personal values.