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    Principles of Macroeconomics Study Set 7
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    Exam 8: Money and Banking
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    What Is the Basis of the Modern Banking System
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What Is the Basis of the Modern Banking System

Question 152

Question 152

Multiple Choice

What is the basis of the modern banking system?


A) Fractional reserves.
B) Commodity money.
C) A medium of exchange.
D) Gold.

Correct Answer:

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