Multiple Choice
When goldsmiths issued receipts to gold owners,and those gold receipts circulated while gold stayed in the goldsmiths' safes,
A) the gold receipts were considered money because they were used as a means of payment.
B) an infant banking system developed in sixteenth century Europe.
C) fiat money was created.
D) money was invented.
E) Both A and B are correct.
Correct Answer:
Verified
Correct Answer:
Verified
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