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AP® Macroeconomics

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Federal Reserve Act

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Why was the Federal Reserve Act created?

A

Unify the United States under the Gold Standard.

B

Unify the United States under the Silver Standard.

C

It was created after the Great Depression to help avoid future depressions.

D

Response to a banking crisis from the early 1900's resulting from pyramid reserves.

E

The treasury department asked to be relieved from money supply issues during prohibition so it could focus on tax evasion.