European banks began with which of the following? a. Monarchs were the first bankers, lending out cash to help the poor learn a craft. b. Churches were the first bankers, lending out cash to help the poor learn a craft. c. Goldsmiths were the first bankers, and the paper receipts they issued for gold held on deposit became valued as money. d. Fishermen were the first bankers, and the paper receipts they issued for fish they stored in the holds of their ships became valued as money Q

European banks began with which of the following? a. Monarchs were the first bankers, lending out cash to help the poor learn a craft. b. Churches were the first bankers, lending out cash to help the poor learn a craft. c. Goldsmiths were the first bankers, and the paper receipts they issued for gold held on deposit became valued as money. d. Fishermen were the first bankers, and the paper receipts they issued for fish they stored in the holds of their ships became valued as money Q

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter19: Money Creation

Section: Chapter Questions

Problem 1SQ

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