The Federal Reserve Act of 1913 guaranteed public control of the American banking system through
a. control of the currency by the secretary of the treasury.
b. federal regulation of all banks with more than $10 million in deposits.
c. Congress's ability to impeach the Federal Reserve chairman elected by member banks.
d. regional banks whose directors had to be approved by the Senate.
e. a Federal Reserve Board appointed by the president.
e
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The Hawley-Smoot Tariff Act of 1930
a. lowered U.S. tariff rates to provide markets for European goods. b. raised tariff rates and contributed positively to economic recovery worldwide. c. encouraged European nations to lower their tariff rates to enable U.S. companies to sell their goods abroad. d. did not pass. e. raised U.S. tariff rates, causing European nations to raise their rates and thus weaken international trade.
Like New York, the New Jersey colony
A. banned slavery during its early existence. B. had great ethnic and religious diversity. C. quickly developed a strong local government. D. developed an important class of large landowners. E. was characterized by a unified and generally peaceful society.
The Maginot Line was
A) the new streamlined style used in art deco. B) a French-led system of alliances in east-central Europe intended to contain both Germany and the Soviet Union. C) a massive system of fortifications built by the French to separate themselves from the Germans. D) intended to enhance France's ability to quickly respond to a German attack on Poland or Czechoslovakia. E) successful in holding back German attacks in World War II.
What was Milton Friedman's economic theory that led to the worst stock market crash since 1929?
A. trickle-down economics B. underconsumption C. monetarism D. speculative demand