The Designers of the Federal Reserve Act Meant to Create

question 62

Multiple Choice

The designers of the Federal Reserve Act meant to create a central bank characterized by its

• A) system of checks and balances and decentralization of power.
• B) strong concentration of power in the hands of a few people.
• C) inability to function as a lender of last resort.
• D) responsiveness to the electorate.

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Definitions:

Sea Level

The average level of the surface of the ocean at any given place, used as a standard in calculating land elevation and water depth.

Hydraulic Pressure

The pressure exerted by a fluid in a hydraulic system, used to generate force and motion in hydraulic machinery and tools.

Steering Systems

Mechanisms in vehicles that allow the driver to guide and direct the direction of the vehicle.

Automatic Transmissions

A type of vehicle transmission that automatically changes gear ratios as the vehicle moves, without the driver having to manually select gears.