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Macroeconomics 20th Edition by Campbell McConnell,Stanley Brue,Sean Flynn
Edition 20ISBN: 978-0077660895Macroeconomics 20th Edition by Campbell McConnell,Stanley Brue,Sean Flynn
Edition 20ISBN: 978-0077660895 Exercise 18
A goldsmith has $2 million of gold in his vaults. He issues $5 million in gold receipts. His gold holdings are what fraction of the paper money (gold receipts) he has issued?
A) 1 /10.
B) 1/5.
C) 2/5.
D) 5/5.
A) 1 /10.
B) 1/5.
C) 2/5.
D) 5/5.
Explanation
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Macroeconomics 20th Edition by Campbell McConnell,Stanley Brue,Sean Flynn
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