Question

The Gold Standard Act of 1900 ended the standard known as(1 point)
Responses

fractional-reserve banking.
fractional-reserve banking.

bimetallism.
bimetallism.

full-reserve banking.
full-reserve banking.

liquidity.

Answer 1

The Gold Standard Act of 1900 ended the standard known as **bimetallism**.

Answer 2

Which of the following describes the practice of fractional-reserve banking?(1 point)
Responses

A bank retains all deposited funds.
A bank retains all deposited funds.

The United States issues a currency that can be exchanged for a set amount of gold.
The United States issues a currency that can be exchanged for a set amount of gold.

The United States issues a currency that cannot be exchanged for a set amount of gold.
The United States issues a currency that cannot be exchanged for a set amount of gold.

A bank loans a percentage of every depositor's funds to borrowers.

Answer 3

The practice of fractional-reserve banking is described by: **A bank loans a percentage of every depositor's funds to borrowers.**

Answer 4

Which of the following is a 20th-century banking development that allows an individual to transfer funds from a checkable deposit directly to a vendor for payment?(1 point)
Responses

savings deposit
savings deposit

demand deposit
demand deposit

debit card
debit card

credit card

Answer 5

The 20th-century banking development that allows an individual to transfer funds from a checkable deposit directly to a vendor for payment is a **debit card**.