In the United States, the dollar was commodity backed by:
A) gold.
B) silver.
C) oil.
D) diamonds.
Correct Answer:
Verified
Q28: If the reserve ratio was 100 percent,
Q29: The ratio of money created by the
Q30: A larger money multiplier means:
A) the reserve
Q31: The money multiplier is approximated as being
Q32: Which of the following would not make
Q34: Funds held in bank accounts that can
Q35: Banks create money in the economy by:
A)
Q36: Under fractional reserve banking:
A) banks only need
Q37: What is a major danger of fiat
Q38: Banks earn money:
A) by lending funds and
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