Please just solve Part B

Show all steps of your work clearly to ensure partial credit

9.(10 points) a. (2 points) What is FDIC insurance? b. (2 points) What is the purpose of insuring people's deposits? C. (2 points) What are the social costs of bank runs? d. (2 points) Discuss the desirability of FDIC insurance. (i.e., what are the costs and the benefits of this policy?) e. (2 points) When was the FDIC created? Describe the economic circumstances at the time which made FDIC desirable