Question

Which of the following facts would support the argument that the Federal Reserve Act of 1913 paved the way for the U.S. to become a major world economic leader? The Federal Reserve Act of 1913 loosened international trade restrictions, allowing more exports from the U.S. to be sold overseas. The Federal Reserve Act of 1913 gave U.S. banks the ability to expand U.S. banking in foreign countries, thus spreading the use of the U.S. dollar worldwide. The Federal Reserve Act of 1913 allowed U.S. banks to lend money to foreign businesses, thus creating a larger international trade network. The Federal Reserve Act of 1913 established a centralized national bank, which was better insured and more respected worldwide, thus opening more doors for international trade.

Answer 1

The following facts supports the argument that the Federal Reserve Act of 1913 paved the way for the U.S. to become a major world economic leader: The Federal Reserve Act of 1913 established a centralized national bank, which was better insured and more respected worldwide, thus opening more doors for international trade.
It was the central bank of the U.S.

Answer 2

Answer:

Explanation:

It can be seen from the passage given above that before the Federal Reserve Act of 1913 was enacted, American citizens do not engage in banking industry as a form of business, they depended on the European for this service. But after the law was enacted, American went into the business of banking and this lead to other events which tremendously benefitted the American economy. This shows that the Act allowed the federal government to expand industry in the country.