1. In this case of the Great Depression, explain how the action of individual depositors to withdraw their money is a case of the "Fallacy of Composition."

2. The Federal Deposit Insurance Corporation was created in 1933 by the Franklin D. Roosevelt Administration. What did the Federal Deposit Insurance Corporation do to prevent runs on the banks?

3. We see now in 2020 and 2021 with the Covid pandemic that the Federal Reserve has encouraged borrowing by setting very low interest rates, and the Congress has passed out much money to individuals in these years (I myself received more than $2500 from the US Treasury.) As compared to the Great Depression, what is the intent of the Federal Reserve and the Congress in 2020-2021?