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

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1. 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?

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Economics

ISBN: 9781259723223

21st Edition

Authors: Campbell McConnell, Stanley Brue, Sean Flynn

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Question Posted: Sep 30, 2024 10:04 AM

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1. 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...
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1. Explain why merchants accepted gold receipts as a means of payment even though the receipts were...

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Economics

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