Which of the following statements comparing the European System of Central Banks and the Federal Reserve System is TRUE?

Question

Quizplus · Accepted Answer

The statement in option A is true. The budgets of the Federal Reserve Banks are controlled by the Board of Governors, while each National Central Bank controls its own budget and contributes to the budget of the European Central Bank. Option B is false because the European Central Bank has more power than the National Central Banks, whereas the Board of Governors has less power than the Federal Reserve Banks. Option C is false because while monetary operations are centralized in the European System of Central Banks, they are not centralized in the Federal Reserve System, where each Federal Reserve Bank conducts its own monetary operations.

Which of the Following Statements Comparing the European System of Central