Which of the Following Is Not True with Respect to the Federal

question 49

Multiple Choice

Which of the following is not true with respect to the Federal Reserve Act of 1913?

• A) It established reserve requirements for member commercial banks.
• B) It specified 14 districts across the United States as well as a city in each district where a Federal Reserve district bank was to be established.
• C) Congress was motivated to pass the act and establish a central bank because the United States had experienced several banking panics in the preceding years.
• D) All of the above are true.

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Definitions:

Post-industrial Society

A stage of society's development when the economy transitions from a manufacturing-based system to one focused on services, information, and technology.

Domination

The exercise of control or influence over someone or something, often through coercion or force.

Competition

Is a mode of interaction in which power is unequally distributed but the degree of inequality is less than in systems of domination. Envy is an important emotion in competitive interactions.

Cooperation

The process of groups or individuals working or acting together for a common purpose or benefit.