When the Federal Reserve Was Unable to Stem the Bank

question 17

Multiple Choice

When the Federal Reserve was unable to stem the bank panics of the 1930s, Congress responded by:

• A) taking over the lender of last resort function and assigning this function to the U.S. Treasury.
• B) ordering the printing of tens of billions of dollars of additional currency.
• C) creating the FDIC and offering deposit insurance.
• D) declaring a bank holiday and closing banks for 30 days.

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Definitions:

Class Interval

A range of values in a dataset that are divided into continuous segments for the purpose of frequency distribution analysis.

Class Interval

A class interval refers to a range in data that groups values within specified upper and lower boundaries in a frequency distribution.

Distribution

Describes the way in which data points are spread out across different values in a dataset.

Frequency Distribution

A summary of how often each value in a set of data occurs, often displayed in a table or graph.