Which of the following led the opposition to the Second Bank of the United States?

William Jennings Bryan

Alexander Hamilton

James Madison

J.P. Morgan

Andrew Jackson

The Federal Reserve-Treasury Accord

overturned the Glass-Steagall Act.

ended the Great Depression.

enhanced the independence of the Federal Reserve.

established a bimetallic standard to back U.S. currency.

mandated full employment and balanced growth for the economy.

The Federal Reserve Act

was signed into law on December 23, 1913.

was brought about following the Panic of 1907.

provided a public-private model for central bank governance.

was maneuvered through Congress by President Woodrow Wilson.

all of the above

The gold standard ended

in 1987 following the stock market crash.

in 1933 as a result of a decision by Franklin Roosevelt.

when the New York Fed stored all the world's gold.

when silver coinage took hold in the early part of the 19th century.

none of the above

The Monetary Control Act of 1980

required the Fed to price its financial services competitively.

contributed to the proliferation of interstate banking.

established reserve requirements for all eligible financial institutions.

enabled banks to offer interest-paying accounts.

all of the above

Which of the following acts separated commercial and investment banking and collateralized Federal Reserve notes?

The National Banking Act of 1863

The Gramm-Leach-Bliley Act of 1999

The Federal Reserve Act of 1913

The Monetary Control Act of 1980

The Banking Act of 1933

Before the founding of the Federal Reserve, banking panics were common because

our banking system experienced liquidity problems.

currency notes were often counterfeited.

our economy was expanding and our currency was inelastic.

there was no mechanism in place to regulate banking activities.

all are correct.

The National Banking Act of 1863

ended the free banking era.

created a dual banking system and established a uniform currency.

banned state-chartered banks.

led to the establishment of the New York Clearinghouse Association.

all of the above

The First Bank of the United States

ended the Revolutionary War.

was the vision of George Washington.

was controlled by banking interests.

printed national bank notes.

all of the above

The Banking Act of 1935

established the FOMC as a separate legal entity.

set the membership of the Board of Governors at seven.

provided for all members of the Board of Governors to be appointed by the president and confirmed by the Senate.

set the term of office of a governor at 14 years.

all are correct