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Question 19 (Multiple Choice Worth 3 points)

Which of the following is the reason the Federal Deposit Insurance Corporation (FDIC) exists?

A. Protects consumers' bank balances, encouraging saving and investing
B. Protects employers' business earnings, encouraging hiring
C. Protects government revenues, encouraging higher taxes
D. Protects international trade, encouraging increased exports



Answer :

GinnyAnswer

Final answer:

The FDIC exists to protect consumers' bank balances through deposit insurance.


Explanation:

The Federal Deposit Insurance Corporation (FDIC) exists to protect consumers' bank balances by providing deposit insurance. This insurance ensures that depositors do not lose their money, even if a bank goes bankrupt. The FDIC collects insurance premiums from banks to fund this protection and guarantees deposits up to $250,000.


Learn more about Federal Deposit Insurance Corporation (FDIC) here:

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