The Federal Reserve That Was Established in 1907 Was to Be

question 198

True/False

The Federal Reserve that was established in 1907 was to be a "lender of last resort," loans money to small businesses that are unable to obtain loans through private banks.

---

Definitions:

Equilibrium Level

The state at which market supply and demand balance each other, resulting in stable prices.

Exports And Imports

The selling of goods and services produced in one country to another country (exports) and the buying of goods and services from another country (imports).

World Price Level

The average of prices for goods and services across different countries, adjusted for exchange rate differences, reflecting the global cost of living.

Diagram

A simplified drawing showing the appearance, structure, or workings of something, often used for explanatory purposes.