One of the major weaknesses of the banking system before the Federal Reserve System was set up was:
A. the arrangement for holding reserves
B. the lack of a deposit insurance system
C. a lack of currency and coin
D. an inadequate supply of government bonds
Answer:A
One of the major weaknesses of the banking system before the Federal Reserve System was set up was:
A. the arrangement for holding reserves B. the lack of a deposit insurance system C. a lack of currency and coin D. an inadequate supply of government bonds