The Fractional Reserve System of Banking Started When Goldsmiths Began

question 154

Multiple Choice

The fractional reserve system of banking started when goldsmiths began

• A) accepting deposits of gold for safe storage.
• B) charging people who deposited their gold.
• C) using deposited gold to produce products for sale to others.
• D) issuing paper receipts in excess of the amount of gold held.

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