JACKSONIAN DEMOCRACY 1825 1850
AGE OF THE COMMON MAN
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A commercial bank authorized to operate by the U.S. government
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Privately owned bank operated only by wealthy individuals
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A private bank that only the President controls.
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None of the above
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Detailed explanation-1: -1. a bank chartered by the U.S. government and formerly authorized to issue notes that served as money. 2. a bank owned and administered by the government, as in some European countries.
Detailed explanation-2: -The Federal Reserve, the central bank of the United States, provides the nation with a safe, flexible, and stable monetary and financial system.
Detailed explanation-3: -What Is a Commercial Bank? The term commercial bank refers to a financial institution that accepts deposits, offers checking account services, makes various loans, and offers basic financial products like certificates of deposit (CDs) and savings accounts to individuals and small businesses.
Detailed explanation-4: -In banking, the term national bank carries several meanings: a bank owned by the state. an ordinary private bank which operates nationally (as opposed to regionally or locally or even internationally)
Detailed explanation-5: -The OCC charters, regulates, and supervises all national banks and federal savings associations as well as federal branches and agencies of foreign banks. The OCC is an independent bureau of the U.S. Department of the Treasury.