The Federal Reserve differed from the central banks of the 19th century in that the Federal Reserve(1 point)

Question

Responses

implemented the practice of fractional reserve banking.
implemented the practice of fractional reserve banking.

financed wartime expenditures and debt.
financed wartime expenditures and debt.

held authority over all banks in the country.
held authority over all banks in the country.

printed the first national currency.

Answer 1

The correct response is: financed wartime expenditures and debt.

The Federal Reserve was established in 1913 and played a significant role in financing the U.S. government's efforts during wartime, particularly during World War I and subsequent conflicts. In contrast, many central banks of the 19th century did not have the same level of authority or responsibilities regarding government financing and managing public debt.