Which of the Following Is Not a Major Function of the Federal

question 98

Multiple Choice

Which of the following is not a major function of the Federal Reserve System?

• A)lender of last resort
• B)clearing checks between banks
• C)setting income tax rates
• D)controlling the money supply

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Definitions:

Significant Differences

Notable or substantial variations between two or more items, figures, or outcomes.

Standards

Established benchmarks or norms that are used for measuring performance or compliance.

Normal Application

In cost accounting, it pertains to the standard method used to allocate overhead costs to products or services.

Reality

The state of things as they actually exist, as opposed to an idealistic or notional idea of them.