Explain why merchants accepted gold receipts as a means of payment even though the receipts were issued

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Explain why merchants accepted gold receipts as a means of payment even though the receipts were issued by goldsmiths, not the government. What risk did goldsmiths introduce into the payments system by issuing loans in the form of gold receipts? LO1

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Economics Principles Problems And Policies

ISBN: 9780073511443

19th Edition

Authors: Campbell Mcconnell ,Stanley Brue ,Sean Flynn

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Question Posted: Oct 01, 2024 04:02 AM

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Explain why merchants accepted gold receipts as a means of payment even though the receipts were issued

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Economics Principles Problems And Policies

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