Statement I: When the Fed was set up in 1913,it was envisaged as a lender of last resort.
Statement II: The Fed did a basically good job in limiting the financial collapse between 1929 and 1933.
A) Statement I is true and statement II is false.
B) Statement II is true and statement I is false.
C) Both statements are true.
D) Both statements are false.
Correct Answer:
Verified
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