In the first party system, federalists versus republicans, which party was the “liberal” party in terms of wanting to use the power of the federal government and which was the “conservative” party?

Well at that time the Republicans were the liberals one Republicans wanted the government too help in it's endeavors now since this is before the Civil War one things the Republicans wanted to do was end slavery and give slave human rights. Federalist (later known as the democrats) were conservative and were especially huge in the south the Federalist wanted to keep slavery and limit power of the government.

To summarize

Republicans = Liberals

Federalist(Democrats) = Conservative

i do not know if this question has options, but a main impact of the federal reserve act of 1913, which created the federal reserve bank, was the international use of the u.s. dollar, which soon became the world's leading currency - particularly during world war i, since many nations around the world asked the united states for money.

idk lol i just wanna finish mines