When Congress Established the Federal Reserve in 1913, the Fed's

question 38

Multiple Choice

When Congress established the Federal Reserve in 1913, the Fed's main purpose was to:

• A)make federal funds loans. conduct open-
• B)market operations. bankroll the
• C)government in World War I. act as a
• D)lender of last resort.

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Definitions:

Lower-order Need

Basic physiological and safety needs that individuals seek to fulfill before addressing more complex desires or psychological aspects.

Higher-order Need

Advanced psychological needs that go beyond basic physical requirements, such as social belonging, esteem, and self-actualization, according to Maslow's hierarchy.

Maslow's Needs

A hierarchy of human needs proposed by Abraham Maslow that describes motivational factors from basic physiological needs to self-actualization.

Direction

Guidance or supervision provided to perform tasks or to make decisions and progress in activities or objectives.