In Its Original Role as Lender of Last Resort, the Fed

question 218

Multiple Choice

In its original role as lender of last resort, the Fed was supposed to:

• A)​provide mortgage money for the poor.
• B)​keep the money supply from drying up during economic panics.
• C)​lend money to people in localities not served by commercial banks.
• D)​lend money to developing nations whose own central banks had failed.

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