Central banks:
A) exist in almost every major nation.
B) are common only to industrialized nations.
C) in the United States oversee the U.S. economy, as well as some developing nations who do not have a central bank.
D) stopped being used after events like the Great Depression proved them useless.

Question

Quizplus · Accepted Answer

Central banks exist in almost every major nation, including both industrialized and developing countries. They play a crucial role in overseeing monetary policy, regulating financial institutions, and maintaining financial stability. While their effectiveness may be debated, they are still widely used today. Option B is incorrect as central banks exist in both industrialized and developing countries. Option C is partially correct, as the Federal Reserve oversees the U.S. economy, but central banks also exist in other countries. Option D is incorrect as central banks continue to be used and are seen as important institutions in managing the economy.

Central Banks