During the Financial Crisis That Began in 2008, What Was

question 94

Multiple Choice

During the financial crisis that began in 2008, what was the key aspect in banks that made savers comfortable that their money was safe?

• A) Congress was watching over the banks.
• B) The Federal Reserve did not let any banks fail.
• C) Deposits were insured up to $250,000 by FDIC.
• D) Bailouts protected the savers.

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Definitions:

Standardized Product

Goods or services that are uniform in quality and performance, allowing them to be interchangeable.

Perfect Competition

A market structure characterized by a large number of small firms, identical products, and ease of entry and exit, leading to no single firm influencing the market price.

Many Buyers

A market condition where there are numerous consumers for a product, enhancing competition and potentially reducing prices.

Price Takers

Market participants who accept prevailing market prices and do not have the market power to influence those prices.