When the Receipts Given by Goldsmiths to Depositors Were Used

question 133

Multiple Choice

When the receipts given by goldsmiths to depositors were used to make purchases,

• A)the gold standard was created.
• B)existing banking laws were violated.
• C)the receipts became in effect paper money.
• D)a fractional reserve banking system was createD.

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Definitions:

Hostile Takeover

An acquisition attempt by a company or individual that is opposed by the target company's management and board of directors.

Flip-Over Provision

A defensive mechanism in a company's charter intended to deter hostile takeovers by allowing shareholders to purchase additional shares at a discount in the event of a takeover.

Takeover

The acquisition of control of a company by another, through the purchase of a majority of its shares or through other strategies.