Which of the following statements is TRUE for the U.S.?
A) The Federal Deposit Insurance Corporation (FDIC) insures bank deposits against losses up to $250,000.
B) The Federal Deposit Insurance Corporation (FDIC) insures bank deposits against losses up to $100,000.
C) The Federal Deposit Insurance Corporation (FDIC) insures bank deposits against losses up to $10,000.
D) The Federal Deposit Insurance Corporation (FDIC) insures bank deposits against natural disaster up to $100,000.
E) The Federal Deposit Insurance Corporation (FDIC) insures bank deposits against floods up to $100,000.
A
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Three of these are examples of nonprice competition. Select the one which is not an example of nonprice competition.
a. location b. physical characteristics c. advertising d. discounts
Myron worked at a factory where he earned $20,000 per year. One day, he quit his job and opened a bumper sticker business. After one year, his business earned $60,000 in sales revenue and he incurred $30,000 in direct business expenses. If he received no salary from the new business, what is his economic profit?
a. $10,000 b. $30,000 c. $60,000 d. $20,000 e. $50,000