Which of the Following Statements About the Federal Reserve System

question 2

Multiple Choice

Which of the following statements about the Federal Reserve System (the Fed) is correct?

• A) The Fed was established by George Washington and Alexander Hamilton in 1793.
• B) Congress created the Fed in 1913.
• C) The Fed was established in 1933, during the famous "Hundred Days" of the New Deal.
• D) Richard Nixon established the Fed in 1969 as an attempt to gain more White House control over monetary policy.
• E) The Fed was established by Herbert Hoover as a weak attempt at warding off the Great Depression.

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Definitions:

Resistance

The refusal to accept or comply with something; the attempt to prevent something by action or argument.

Care Perspective

A viewpoint in ethics and moral development emphasizing the importance of response to the needs of others and the moral significance of building caring relationships.

Moral Perspective

An individual's viewpoint on right and wrong, shaped by personal values, cultural norms, and life experiences.

Interpersonal Communication

The process by which people exchange information, feelings, and meaning through verbal and non-verbal messages in face-to-face contexts.