Multiple Choice
When the Federal Reserve was unable to stem the bank panics of the 1930s, Congress responded by:
A) taking over the lender of last resort function and assigning this function to the U.S. Treasury.
B) ordering the printing of tens of billions of dollars of additional currency.
C) creating the FDIC and offering deposit insurance.
D) declaring a bank holiday and closing banks for 30 days.
Correct Answer:
Verified
Correct Answer:
Verified
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