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Category - Economics

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What is the limit the FDIC is willing to guarantee bank customers who hold savings accounts in a participating bank?
  1. $50,000
  2. $250,000
  3. $25,000
  4. $100,000
Explanation
Answer: D - The FDIC guarantees savings account customers $100,000 of protection in the event their bank falters. The FDIC began in 1933 and initially offered $2,500 of protection. The next year the protection doubled, and the rate has risen incrementally since then.
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