Question
Which of the following reflects the decentralization that occurred throughout the U.S. banking system in the mid-1800s?(1 point)
Responses
The national currency of the United States was established.
The national currency of the United States was established.
The number of national banks increased dramatically.
The number of national banks increased dramatically.
The first and second central banks of the United States were chartered.
The first and second central banks of the United States were chartered.
The number of independent state banks increased dramatically.
Responses
The national currency of the United States was established.
The national currency of the United States was established.
The number of national banks increased dramatically.
The number of national banks increased dramatically.
The first and second central banks of the United States were chartered.
The first and second central banks of the United States were chartered.
The number of independent state banks increased dramatically.
Answers
GPT-4o mini
The response that reflects the decentralization that occurred throughout the U.S. banking system in the mid-1800s is:
**The number of independent state banks increased dramatically.**
During this period, the banking system was characterized by a proliferation of state-chartered banks, leading to a more decentralized financial system.
**The number of independent state banks increased dramatically.**
During this period, the banking system was characterized by a proliferation of state-chartered banks, leading to a more decentralized financial system.