The statement "the first paper money, printed under government auspices, appeared" accurately describes the development of currency in 1024. This marked the beginning of the widespread use of paper money in China.

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In 1024

Question 11

Multiple Choice

In 1024,

A) the Song emperors outlawed the printing of paper money,by anyone.
B) the Song emperors transferred the printing of paper money from government to private control.
C) the Chinese economy collapsed because of inflation caused by the printing of paper money.
D) the Tang emperors established the first modern banking industry.
E) the first paper money,printed under government auspices,appeared.

Correct Answer: