The Main Purpose of the Federal Reserve, Which Was Established

question 123

True/False

The main purpose of the Federal Reserve, which was established in 1913, was to put an end to the bank crises that occurred during the national banking era.

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Definitions:

Voluntary Act

A behavior or action undertaken by an individual willingly, without coercion.

Observable

Capable of being seen or noticed through direct observation.

Constructionists

Advocates of constructionism, a theory that suggests knowledge and reality are not objective but constructed by societal or cultural contexts.

Social Control

Mechanisms, strategies, and institutions society uses to regulate individual and group behavior, aiming to conform to norms and rules.