The Fractional Reserve System of Banking Started When Goldsmiths Began

question 17

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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Definitions:

Minority Person

An individual belonging to a segment of a population that differs from the majority in cultural, national, racial, religious, linguistic, or sexual characteristics.

Dominant Culture

The culture of the most powerful, widespread, or influential group within a society that sets norms and standards.

Acculturation

The process of cultural change and psychological change that occurs when two cultures meet.

Social Support System

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