When the Receipts Given by Goldsmiths to Depositors Were Used

question 170

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:

Moles

In dermatology, a common type of skin growth; in chemistry, a unit measuring the amount of substance.

Warts

Small, rough growths on the skin caused by the human papillomavirus (HPV), typically harmless and self-limiting.

Acne

A skin condition that occurs when your hair follicles become plugged with oil and dead skin cells.

Turgor

Normal tension; with the skin, it means the resistance to being deformed and the length of time to return to normal.