Before the Federal Reserve System Was Created, a Large Part

question 153

Multiple Choice

Before the Federal Reserve System was created, a large part of the reserves of commercial banks was

• A) in the form of state and federal government bonds.
• B) deposited with the United States Treasury.
• C) held as deposits with large city banks.
• D) held as cash in their vaults.

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Definitions:

Fixed Payment

Regular, set amounts of money paid or received at specified intervals, such as monthly rent or car loan payments.

Outpatient Basis

Medical treatment or procedures that do not require an overnight stay in a hospital or medical facility.

Infant Mortality Rates

The number of deaths of infants under one year old per 1,000 live births in a given year.

GDP

GDP (Gross Domestic Product) measures the total monetary or market value of all the finished goods and services produced within a country's borders in a specific time period.