The concept of holding reserves, such as gold, that are less than the value of the total deposits
A) is known as fractional reserve banking.
B) has been illegal since the passage of the Financial Services Modernization Act of 1999.
C) is known as non-credit banking.
D) None of the above are correct.
A) is known as fractional reserve banking
Economics
You might also like to view...
Explicit costs include
a. monitoring expenses incurred by the government b. enforcement costs paid by the public sector c. compliance costs incurred by all economic sectors d. all of the above e. none of the above
Economics
By total economic output (gross domestic product), the United States ranks as the ______ largest economy in the world.
A. third B. first C. tenth D. second
Economics