Multiple Choice
Under the Federal Reserve Act of 1913,
A) membership in the Federal Reserve System was made voluntary for all banks.
B) federally chartered banks were required to join the Federal Reserve System.
C) membership in the Federal Reserve System was required of all banks that had deposits of more than $1 million.
D) all banks were required to hold reserves equal to at least 50 percent of their deposits.
Correct Answer:
Verified
Correct Answer:
Verified
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