Answer:
(European) goldsmiths
Explanation:
European goldsmiths (Italian goldsmiths were the first) formulated a principle that only 5% of deposits were needed in reserve at any particular time, therefore they could lend 95% of the gold they held in deposit.
Goldsmiths would rent space in their vaults that allowed other people to keep their gold in a safe place. That led to transactions were notes indicating the amount of gold deposited would be traded instead of trading gold itself.
Eventually goldsmiths discovered that they could trade (lend) more money than the amount of gold they held in deposits, inventing fractional reserve banking.
Answer:
Complete at least 10 qualifying transactions (including debit card purchases, online bill payments and direct deposits) within 60 days of opening your account. The account must remain open for six months, or Chase may deduct the bonus at closing. When you'll get it: Within 10 business days of completing requirements.
School district administrators
Answer:
1. Menu costs
- Can lead to stores listing prices in more stable currencies.
- Causes costs associated with changing prices in stores.
2. Shoe-leather-costs
- Discourages people from holding money.
- Spending time converting money into something that better holds value.
3. Unit-of-account costs
- Can reduce the quality of economic decisions.
- Makes money a less reliable source of measurement.
- Can cause distortion to the tax system.
- Causes difficulty in firms and individuals financial planning.
<span>18 x .6 = $10.80 US
18 x .5 = $9.00 US
9/10.80 = .83
1 - .83 = 17% change
You first multiply the price in pounds by the exchange rate to find out how much the product would cost in US dollars. Then the same calculation is done with the lower exchange rate. You create an equation with the 2 US dollar amounts. Then to get the percent change, you subtract that answer from 1.</span>
