Label each statement as either "True" or "False" below.
1.In the United States, banks ke...
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Label each statement as either "True" or "False" below.
1.In the United States, banks keep the entire value of all customer deposits in the bank vault to meet customer withdrawals.
2.Banks typically loan out a portion of customer deposits.
3.Bank runs occur when many customers attempt to withdraw deposits from the bank at once, and the bank is unable to pay all customer deposits.
4The Federal Deposit Insurance Corporation protects bank deposits from bank failure.
5.The fractional reserve banking system requires all banks to keep the total value of customer deposits in the bank vault to prevent bank runs.
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