Alfredo Banks at a Commercial Bank That Advertises Its Membership

question 194

Multiple Choice

Alfredo banks at a commercial bank that advertises its membership in the FDIC. This means that:

• A) the bank guarantees it will pay the highest possible interest rate on his savings.
• B) his money is insured by an independent agency of the federal government.
• C) his money is automatically invested in securities issued by the federal government.
• D) the bank is a member of a larger consortium of banks that will enable Alfredo to cash checks and obtain basic bank services in virtually any major city in the United States.

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Definitions:

Modern Capitalism

An economic and social system in which trade, industry, and the means of production are largely or entirely controlled by private owners with the goal of making profits in a competitive market.

Sense of Agency

The feeling of control over actions and their consequences, recognizing oneself as the agent causing events.

Offers Contribution

The act of making offerings or contributions that add value or support to a project, organization, community, or system.

Packaging Standards

Regulations and guidelines that dictate the materials, design, and labeling used in packaging products.