Congress Could,if It Wished,reduce the Power of the Federal Reserve

question 41

True/False

Congress could,if it wished,reduce the power of the Federal Reserve Board or even abolish it.

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Definitions:

Provincial Statutes

Laws enacted by the legislative bodies of provinces or territories within a federal system.

Parliamentary Supremacy

The principle that Parliament has the highest legal authority within its jurisdiction and that its enactments cannot be overruled by any other body.

Canada

Canada is a country located in the northern part of North America, known for its vast landscapes, multicultural population, and as a member of the Commonwealth.

Common-law System

A legal system characterized by judicial precedent and the principle that similar cases should be decided in a similar way.