The bank failures of 1907 and the resulting cash shortage problems led to the creation of

A. the Federal Reserve System.
B. the gold standard.
C. monetary policy.
D. the money supply.

Question

29-07-2024
History

Answered

The bank failures of 1907 and the resulting cash shortage problems led to the creation of

A. the Federal Reserve System.
B. the gold standard.
C. monetary policy.
D. the money supply.

Answer :

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GinnyAnswer GinnyAnswer · Answer 1 · 2024-07-29T17:05:56-04:00

Final answer:

The bank failures of 1907 prompted the creation of the Federal Reserve System in 1913 to manage the money supply and control monetary policy for economic stability.

Explanation:

The bank failures of 1907 and the resulting cash shortage problems led to the creation of the Federal Reserve System. The Federal Reserve Act was passed by Congress in 1913, establishing the Federal Reserve as the central bank of the United States, with the purpose of managing the money supply and influencing monetary policy to promote economic stability.

Learn more about Federal Reserve System here:

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The bank failures of 1907 and the resulting cash shortage problems led to the creation ofA. the Federal Reserve System.B. the gold standard.C. monetary policy.D. the money supply.

Answer :

Final answer:

Explanation:

Learn more about Federal Reserve System here:

Other Questions

The bank failures of 1907 and the resulting cash shortage problems led to the creation of

A. the Federal Reserve System.
B. the gold standard.
C. monetary policy.
D. the money supply.