QUESTION 12 Which of the following is true of the Federal Reserve System? O a. It is one central bank located in Washington, D.C. O b. All Federal Reserve banks are required to also become state banks. O c. It was created just before World War II. O d. It was notably unsuccessful in averting the Great Depression. Oe. With the formation of the Fed, the power to issue banknotes was taken away from national banks and turned over to the state banks