Multiple Choice
The initial development of paper money began when people used ____ as payment for goods and services.
A) credit cards
B) commodity money
C) goldsmith receipts
D) gold bullion
E) gold coins
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q8: Due to the private nature of bank
Q31: The "efficiency of the payments mechanism" refers
Q55: When a banker accepts a deposit of
Q107: The U.S.government will probably return soon to
Q108: The main advantage of money market deposit
Q114: Price levels rarely remain the same.This implies
Q115: The money creation formula is oversimplified because
Q139: Banks that are managed in a very
Q149: Fractional reserve banking has three crucial features:
Q167: Paper money has been in use since