Limited access

Upgrade to access all content for this subject

List Settings
Sort By
Difficulty Filters
Page NaN of 1946

The Federal Reserve Act of 1913, in addition to creating the Federal Reserve System, made it illegal for banks to issue private banknotes as they had done previously. As a result, banks shifted to the creation of negotiable draft accounts that could be issued in any amount by the account holder. This is an example of what kind of money?

A

Commodity money.

B

Convertible paper money.

C

Fiat money.

D

Checkable deposit money.

Accuracy 0%
Select an assignment template