Which of the Following Statements About the Federal Reserve Is

question 126

Multiple Choice

Which of the following statements about the Federal Reserve is FALSE?

• A) It was created in 1913.
• B) It consists of 12 Federal Reserve Banks.
• C) It was created to regulate the U.S. money supply.
• D) Its chair is chosen by a committee comprised of representatives from the 12 Reserve Banks.
• E) It has several mechanisms for managing interest rates and the money supply.

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Definitions:

Divorce

A court or a certified authority's official annulment of a marriage.

Grandparents

The parents of one's parents, often playing important roles in family support and heritage transmission.

Remarried

The act of marrying again after the end of a previous marriage, either due to divorce or the death of a spouse.

Immigrants

Individuals who move from one country to another with the intention of settling in the new country.