Money & Banking

Please Explain in detail (but not too long). Answer ALL THE SUBSECTIONS

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Free banks in the Free Banking Era issued banknotes. Similarly, national banks in the National Banking Era issued banknotes. a) What happened during a bank run in the Free Banking Era? [3 Points] b) What happened during a bank run in the National Banking Era? [3 Points] What were the main causes for bank runs in these two periods? [4 Points]