Question
Which of the following describes the practice of fractional-reserve banking?(1 point)
Responses
a A bank loans a percentage of every depositor's funds to borrowers.
b The United States issues a currency that cannot be exchanged for a set amount of gold.
c A bank retains all deposited funds.
d The United States issues a currency that can be exchanged for a set amount of gold.
Responses
a A bank loans a percentage of every depositor's funds to borrowers.
b The United States issues a currency that cannot be exchanged for a set amount of gold.
c A bank retains all deposited funds.
d The United States issues a currency that can be exchanged for a set amount of gold.
Answers
GPT 3.5
a A bank loans a percentage of every depositor's funds to borrowers.