Which of the following statements describes the Federal Reserve Act of 1913?
A) It had little effect on the U.S.economy.
B) It was passed by the House and Senate over President Wilson's veto.
C) It was the most significant piece of domestic legislation in Wilson's presidency.
D) It was designed to curb the economic power of the federal government.

Question

Quizplus · Accepted Answer

The Federal Reserve Act of 1913 was the most significant piece of domestic legislation in Wilson's presidency, as it established the Federal Reserve System and allowed for greater regulation of the banking system.

Answer: B is incorrect because President Wilson actually signed the bill into law. 
Answer: A and D are incorrect because the Federal Reserve Act had significant and lasting effects on the U.S. economy, and it was designed to increase the federal government's role in regulating the economy.

Which of the Following Statements Describes the Federal Reserve Act