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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