Which of the Following Is True of the Federal Reserve

question 119

Multiple Choice

Which of the following is true of the Federal Reserve System?

• A)It is one central bank located in Washington,DC.
• B)It was created just before World War II.
• C)All Federal Reserve banks are required to also become state banks.
• D)With the formation of the Fed,the power to issue bank notes was taken away from national banks and turned over to the state banks.
• E)It was notably unsuccessful in averting the Great Depression.

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Definitions:

Enforced

Imposed by authority or law to ensure compliance or adherence to certain standards or regulations.

Harvest Slowly

A principle or approach suggesting the gradual collection or utilization of resources to ensure sustainability and avoid depletion.

Market Failure

A scenario where goods and services are distributed in a way that isn't optimal, frequently resulting in a reduction of overall societal well-being.

Property Rights

Legal rights to possess, use, and dispose of assets including real property and intellectual property.