In 1933, the ________ was set up to ________.
A) Troubled Asset Relief Fund; shore up insolvent commercial banks
B) Federal Reserve System; centralize monetary policy
C) Federal Deposit Insurance Corporation; help prevent bank runs
D) Depository Institutions Deregulation and Monetary Control Act; repeal the Glass-Steagall Act
E) U.S. Department of Treasury; monitor investment bank activity

Question

Quizplus · Accepted Answer

The Federal Deposit Insurance Corporation was set up in 1933 to help prevent bank runs, by insuring individual deposits up to a certain amount. The Troubled Asset Relief Fund (A) was established in 2008 to help stabilize insolvent financial institutions during the financial crisis. The Federal Reserve System (B) was established in 1913 to centralize monetary policy, and the Depository Institutions Deregulation and Monetary Control Act (D) was passed in 1980 to deregulate the banking industry and give the Federal Reserve more control over the money supply. The U.S. Department of Treasury (E) is responsible for overseeing the nation's finances and implementing economic policy.

In 1933, the ________ Was Set Up to ________

In 1933, the Was Set Up to