The Federal Reserve
A)was created in 1836.
B)serves as a lender of last resort.
C)was created to facilitate the federal government's collection of taxes as well as its expenditures.
D)All of the above are correct.

Question

Quizplus · Accepted Answer

The Federal Reserve was created in 1913, not 1836, and while it does play a role in facilitating the federal government's financial transactions, that was not its primary purpose. Its primary purpose is to serve as a lender of last resort to banks and other financial institutions during times of financial crisis.