Author Question: The Federal Reserve Act of 1913: a. was declared unconstitutional by the Supreme Court. b. ... (Read 54 times)

corkyiscool3328 · **on:** Sep 11, 2019

Question 1

Which of the following is NOT true about the Federal Reserve System?

a. It was established as a bankers' bank.
b. The chair of the Federal Reserve was to be chosen in national elections every six years.
c. Participating banks named two thirds of its board of directors.
d. All national banks were required to belong to the system.

Question 2

The Federal Reserve Act of 1913:

a. was declared unconstitutional by the Supreme Court.
b. allows bankers to control the nation's money supply.
c. turned the national banking system into a socialist enterprise.
d. provided some regulation for the nation's banking system.