Which of the Following Is True of the Federal Reserve

question 119

Multiple Choice

Which of the following is true of the Federal Reserve System?

• A)It is one central bank located in Washington,DC.
• B)It was created just before World War II.
• C)All Federal Reserve banks are required to also become state banks.
• D)With the formation of the Fed,the power to issue bank notes was taken away from national banks and turned over to the state banks.
• E)It was notably unsuccessful in averting the Great Depression.

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Definitions:

Counterfactual Thinking

The psychological process of imagining alternative outcomes to events that have already occurred, often starting with "what if" questions.

Olympic Bronze Medalists

Athletes who have achieved third place in their respective events at the Olympic Games.

Overconfidence

A cognitive bias that causes a person to believe that they are more capable or knowledgeable than they actually are.

Primacy Effect

The tendency to remember information at the beginning of a list better than information in the middle or at the end.