Solved

When the Receipts Given by Goldsmiths to Depositors Were Used

Question 170

Multiple Choice

When the receipts given by goldsmiths to depositors were used to make purchases,


A) the gold standard was created.
B) existing banking laws were violated.
C) the receipts became in effect paper money.
D) a fractional reserve banking system was created.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q165: <span class="ql-formula" data-value="\begin{array} { | c |

Q166: Money is "created" when<br>A) a depositor gets

Q167: The granting of a $10,000 loan and

Q168: The reserve ratio refers to the ratio

Q169: <span class="ql-formula" data-value="\begin{array} { | l |

Q171: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8601/.jpg" alt=" Assume the Continental

Q172: (Last Word) Suppose Balin has $100 to

Q173: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8601/.jpg" alt=" Refer to the

Q174: Which of the following would reduce the

Q175: When Bank A borrows reserves in the