Identify the Correct Statement About the Fed

question 40

Multiple Choice

Identify the correct statement about the Fed.

• A)When the Federal Reserve System was established,all banks were required to become members.
• B)When the Federal Reserve System was established,only federally chartered banks were allowed to join.
• C)When the Federal Reserve System was established,only federally chartered banks were required to join.
• D)When the Federal Reserve System was established,most banks joined even though none were required to join.
• E)When the Federal Reserve System was established,membership was required for all banks in some states,but not in others.

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Definitions:

Deserts

Extremely dry areas of land with sparse vegetation, characterized by receiving less than 25 centimeters (10 inches) of precipitation per year.

Earth's Land Surface

The solid surface layer of the Earth, as opposed to the ocean or sky; includes continents and islands.

Desert Insects

Insects adapted to survive in desert environments with extreme conditions such as high temperature and low moisture.

Body Covering

The outer protective layer or surface of an organism, such as skin in humans, feathers in birds, or fur in mammals.