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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Related Book For
Macroeconomics
ISBN: 9781259915673
21st Edition
Authors: Campbell McConnell, Stanley Brue , Sean Flynn
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