Which of the following statements about the FDIC is untrue?
a. The FDIC conducts bank audits and examinations.
b. The FDIC helps prevent bank failures.
c. The FDIC is owned by member banks.
d. The FDIC provides demand deposit insurance for participating banks.
e. The FDIC was created in 1933.
C
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Economics examines the options open to households, business firms, governments, and entire societies by the limited resources at their command.
Answer the following statement true (T) or false (F)
Refer to Figure 9-4. Under autarky, the consumer surplus is area
A) R + S + V. B) S. C) R. D) S + V.
What does an empirical analysis of the key votes at the Constitutional Convention suggest?
(a) Merchants, manufacturers, capitalists, creditors, and public and private security holders supported a national system of government. (b) Delegates from larger and coastal states, as well as bankers and other private debt holders, were most likely to support the new Constitution. (c) Slaveholders were likely to stand in opposition to the Constitution, while farmers and debtors were either opposed or indifferent. (d) All of the above are correct.
If price of product A increases by 10%, and the quantity demanded for product B drops by 50%, then the cross price elasticity of the quantity of product A with respect to price of product B is
A) 5. B) -5. C) 0.2. D) -0.2.