Historically,why Were Goldsmiths Able to Create Money

question 86

Multiple Choice

Historically,why were goldsmiths able to create money?

• A)Because consumers and merchants preferred to use gold rather than currency for transactions.
• B)Because they always kept 100 percent reserves.
• C)Because only a few of their customers would redeem their notes for gold at any one time.
• D)Because they held the right to print money.

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