When Goldsmiths Issued Receipts to Gold Owners,and Those Gold Receipts

question 264

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.

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Definitions:

Campaign Organizations

Groups or entities dedicated to promoting specific causes, candidates, or agendas, often during an election period.

Single Purpose

Designed or intended to fulfill only one specific function or task, without deviation or multipurpose utility.

Two-Party System

A political system dominated by two major parties, often limiting the presence or success of smaller or third parties.

Legislative Chamber

A formal assembly or room where a legislature meets to discuss and make laws.