1. A goldsmith has $2 million of gold in his vaults. He issues $5 million in gold...

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1. A goldsmith has $2 million of gold in his vaults. He issues

$5 million in gold receipts. His gold holdings are what fraction of the paper money (gold receipts) he has issued? LO15.1

a. 1/10.

c. 2/5.

b. 1/5.

d. 5/5.

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Macroeconomics

ISBN: 9781259915673

21st Edition

Authors: Campbell McConnell, Stanley Brue , Sean Flynn

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Question Posted: Sep 30, 2024 01:00 AM

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1. A goldsmith has $2 million of gold in his vaults. He issues $5 million in gold...

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Macroeconomics

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