The Major Protection Against Sudden Mass Attempt to Withdraw Cash

question 22

Multiple Choice

The major protection against sudden mass attempt to withdraw cash from banks is the:

• A) Federal Reserve.
• B) Consumer Protection Act.
• C) deposit insurance provided by the FDIC.
• D) gold and silver backing the dollar.

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Definitions:

Wage Inequality

The disparity in earnings between different workers or groups of workers.

Unskilled Workers

Employees who perform jobs that require minimal training or skills.

Supply and Demand

The fundamental economic model that describes how the price and availability of goods and services are determined in a market.

Artificial Price

A price level influenced by external factors such as government intervention, rather than by free market forces.