Which of the following is true of the Federal Reserve System?
A)It is one central bank located in Washington,DC.
B)It was created just before World War II.
C)All Federal Reserve banks are required to become state banks also.
D)With the formation of the Fed,the power to issue bank notes was taken away from national banks and turned over to the state banks.
E)It was notably unsuccessful in averting the Great Depression.

Question

Quizplus · Accepted Answer

The Federal Reserve System, established in 1913, was notably unsuccessful in averting the Great Depression, which began in 1929.

Which of the Following Is True of the Federal Reserve