What did the federal reserve act create?
a. it enforced conservation of land and created monuments.
b. it supported 10 national banks in the nation without a central banking system.
c. it created a centralized banking system for our nation.
d. it created a federal income tax.
e. it prohibited child labor.

The correct answer is C. The Federal Reserve Act created a centralized banking system for the United States.

The Federal Reserve Act, enacted in December 23rd of 1913, established the Federal Reserve, which is the central banking system of the United States, and granted it the legal authority to issue Federal Reserve Notes (commonly known as United States dollars) and Banking Promissory Notes of the Federal Reserve as legal tender. The law was approved by President Woodrow Wilson.

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social contract theory, nearly as old as philosophy itself, is the view that persons' moral and/or political obligations are dependent upon a contract or agreement among them to form the society in which they live