Question

Many of our founding fathers opposed America's first central bank. Thomas Jefferson saw it as an engine for speculation, financial manipulation, and corruption.

- True
- False

The extent that the Federal Reserve can multiply money depends on the
a. national debt.
b. federal deficit.
c. reserve requirement.
d. discount rate.

Answer 1

The statement "Many of our founding fathers opposed America's first central bank. Thomas Jefferson saw it as an engine for speculation, financial manipulation, and corruption" is True.

Regarding the extent that the Federal Reserve can multiply money, it depends on the reserve requirement. So the correct option is c. reserve requirement.