The Goldsmith's Ability to Create Money Was Based on the Fact

question 77

Multiple Choice

The goldsmith's ability to create money was based on the fact that:

• A)withdrawals of gold tended to exceed deposits of gold in any given time period.
• B)consumers and merchants preferred to use gold for transactions, rather than paper money.
• C)the goldsmith was required to keep 100 percent gold reserves.
• D)paper money was rarely redeemed for gold.

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Definitions:

Independent Variable

The variable that is manipulated or changed in an experiment to investigate its effect on the dependent variable.

Experimental Group

In a scientific study, the group of subjects who receive the treatment or condition being tested, as opposed to the control group.

Experimenter Bias

A process where the scientists performing the research influence the results, in order to portray a certain outcome.

Case Study

An in-depth investigation of an individual, group, event, or situation to explore causation in order to find underlying principles.