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7/30/2020Sophia :: Welcome1/15UNIT 3 — MILESTONE 3Score23/23You passed this Milestone23 questions were answered correctly.1Which of the following was an advantage associated with the free banking system in place in the United States during the 19th century priorto the development of the Central Bank?The banking system created a very stable form of currency.If a bank in one city went bankrupt, people in other cities would not hear about it for several weeks.Individuals had difficulty judging the value of a note printed by an unknown bank.Currency traders could make a living trading currency between cities.
7/30/2020Sophia :: Welcome2/15CONCEPTHistory of the Central Bank 2Which of the following is true about a fractional reserve banking system?CONCEPTCentral Banks 3The discount rate is charged to __________.
7/30/2020Sophia :: Welcome3/15bondholders who sell their bonds before they maturemember banks for short term loans from the FedCONCEPTDiscount Rate 4Select the example below that is part of contractionary monetary policy.5Which of the following is an example of deflation? People revert back to a barter economy.
7/30/2020Sophia :: Welcome4/15Someone owes more on a house than it is worth.