Answer:
Before the establishment of the Federal Reserve System, the West was faced with financial crises. There were instances ok which there were a form of crises which led to fears and worries by bank customers. The people ran to their banks to withdraw their deposits. The failure of one bank often had a ripple effect in which customers of other banks rushed to withdraw funds from their own banks even if those banks were not involved in the crisis.
Banks needed a source of emergency reserves to prevent customer fears and banks being driven out of business.
This led to the set up of the Federal Reserve Act.
The Federal Reserve System was created to tackle these banking issues and also to make possible fostering a sound banking system and healthy economy.
Answer:
And there you have it. The answer of course
The correct answer is the fundamental attribution error.
Fundamental attribution error (FAE) refers to the phenomenon in which we attribute others' behavior to their disposition (personality) and their abilities, intelligence and skills (or their lack thereof), while attributing our own behavior to situational factors outside our control (bad weather, a harsh teacher, an unforeseen event, etc.). An instance of FAE is failing an exam. If we fail an exam we are much more likely to attribute it to situational factors (the exam was unfairly hard, the teacher graded it unfairly, etc.). On the other hand if another person fails an exam we are much more likely to attribute it to factors internal to him or her- he/ she did not study hard enough, he/she is not intelligent and is incompetent.
The three categories of public policies are those that regulate, limit, and facilitate.
<h3>What is public policy?</h3>
Public policy is an institutionalised plan or a chosen set of features like laws, rules, guidelines, and actions to solve or address topical and real-world problems. It is regulated by a thought and commonly carried out through programmes. Public policy is a set of guidelines, directives, plans of action, and budgetary priorities affecting a particular topic that have been developed by a governmental entity or its representatives.
The following are some more strong justifications for studying public policy: to gain knowledge on how to impact public policy for the benefit of society. to create creative responses to difficult problems. to acquire the ability to view problems from a variety of angles.
<h3>What is the role of public policy and who creates public policy?</h3>
Public policy is focused on the choices that have an impact on how a political system functions, such as those that have an impact on public health care, education, and the organisation of the armed forces.
Even if ideas originate from outside of government or through interactions between government and the public, governments ultimately make policy.
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According to the source, the answer to this question is magnification, overgeneralization, selective perception and all-or-nothing thinking. These thinking patterns are what leads to depressive episodes and maladaptive behavior.
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