Prior to the establishment of the Federal Reserve System (1913) ,reserve requirements
A) limited the banks' ability to lend.
B) did not restrict the amount of paper-money issued by banks.
C) freed banks to create as much money as the market could bear without regard for risk and withdrawal rates.
D) forced banks to place deposits in the national bank.
Correct Answer:
Verified
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Q19: All national banks were required to join
Q20: The panic of 1893 was caused by
Q21: The increase in tax on state bank
Q23: Under the bimetallic system,when did the U.S.experience
Q24: The National Banking System under the Bank
Q25: Davis (1963)compares U.S.and British industrialization.What does he
Q26: Between 1865 and 1914,individuals in households could
Q27: Which is considered fiat money?
A) Greenbacks
B) Gold
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