Multiple Choice
Bank notes created by a goldsmith in a fractional reserve system were
A) not backed by anything of value
B) commodity money,since they were backed by gold
C) not commodity money fully,since not all the gold was there
D) representative of commodity money
E) fiat money
Correct Answer:
Verified
Correct Answer:
Verified
Q18: The primary purpose of the Federal Open
Q26: The most effective mechanism for reducing runs
Q39: The main source of profit for financial
Q45: In general,the more money in existence,the better
Q129: The Banking Act of 1933<br>A)allowed banks to
Q130: Some financial institutions are known as financial
Q134: All of the following are powers of
Q135: The value of money is fundamentally determined
Q136: The reason that the Federal Reserve System
Q138: According to Gresham's Law,when two kinds of