American citizens regained faith in banks after Congress created the Federal Deposit
Insurance Corporation (FDIC) during the New Deal. What did the FDIC do?
a) required the federal government to insure personal bank deposits in case that
bank failed
b) authorized the federal government to immediately deposit $1 billion in banks
to guarantee deposits
c) allowed only healthy banks to remain open for the next 5 years
d) gave people the right to withdraw all of their money without a penalty or
waiting period
Question 9 (2 points)