What is not true about Federal Reserve System?

PU-MET : Panjab University MBA Entrance Exam with MCQ Answers 2013

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95.

A: It is not 'owned' by anyone

B: It is 'not a private, profit-making institution'

C: It is an independent entity within the government , having both public purposes and private aspects.

D: It is owned and controlled by the Government

The answer is: D

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