Statement I: the Whole Idea of the FDIC Is to Avert

question 145

Multiple Choice

Statement I: The whole idea of the FDIC is to avert bank panics by assuring the public that the federal government stands behind the banking system.
Statement II: The FDIC is backed by the Congress,the Treasury,and the Federal Reserve.

• A)Statement I is true and statement II is false.
• B)Statement II is true and statement I is false.
• C)Both statements are true.
• D)Both statements are false.

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