The goldsmith's ability to create money was based on the fact that: A) people preferred to use paper money as a medium of exchange. B) the goldsmith was required to keep 100% gold reserves. C) consumers preferred to use gold for transactions. D) withdrawals of gold tended to exceed deposits of gold.
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Home » Business » The goldsmith's ability to create money was based on the fact that: A) people preferred to use paper money as a medium of exchange. B) the goldsmith was required to keep 100% gold reserves. C) consumers preferred to use gold for transactions.