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Select the statement below that is FALSE regarding the history of the development of central banks.
a) Banks record entries in people's deposit accounts, allowing them to write checks based on money in reserves.
b) Banks have developed ways to prevent future panics and runs from happening.
c) Banks store paper money, known as reserves, in the vault
d) Today, banks prefer people to deposit gold instead of paper currency.

Respuesta :

jayilych4real

The false statement about the history of the development of central banks is:

  • D) Today, banks prefer people to deposit gold instead of paper currency.

Based on the given question, we can see that there are a list of options which asks us to pick the wrong one which DOES NOT show the accurate statement about history of central banks.

As a result of this, we can see that banks have always been a medium of storing money and this has prevailed and the preference of paper currency by traditional banks still holds sway, and deposits in gold is not preferred.

Therefore, the correct answer is option D

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