Question
Multiple Select Question
Select all that apply
Which of the following were deemed by Congress in the early 20th century to be essential for an efficient banking system?
Multiple select question.
Public control
Decentralization
Freedom from regulation
International involvement
Centralization
Select all that apply
Which of the following were deemed by Congress in the early 20th century to be essential for an efficient banking system?
Multiple select question.
Public control
Decentralization
Freedom from regulation
International involvement
Centralization
Answers
GPT-4o mini
In the early 20th century, Congress deemed the following to be essential for an efficient banking system:
- **Decentralization**
- **Centralization**
These concepts reflect the balance between local control and stability provided by a centralized system, particularly in the context of the establishment of the Federal Reserve System in 1913, which aimed to create a more stable and flexible banking framework in the United States.
The options "Public control," "Freedom from regulation," and "International involvement" were not primarily emphasized in the same way during that period.
- **Decentralization**
- **Centralization**
These concepts reflect the balance between local control and stability provided by a centralized system, particularly in the context of the establishment of the Federal Reserve System in 1913, which aimed to create a more stable and flexible banking framework in the United States.
The options "Public control," "Freedom from regulation," and "International involvement" were not primarily emphasized in the same way during that period.