Multiple Choice
Which of the following describes the "invention" of banking?
A) The British Empire created a banking system to fund its exploration of the New World.
B) Members of the New York Stock Exchange founded the Bank of America in the 1700s.
C) Goldsmiths in the sixteenth century issued gold receipts which entitled its owners to reclaim their gold on demand.
D) Clergy in the Renaissance created the banking system to help further the growth of the church.
E) The United States government founded the Federal Reserve in 1913.
Correct Answer:
Verified
Correct Answer:
Verified
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