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Example Questions
Example Question #91 : Economic History
Which of these countries was the first to issue paper money?
Possible Answers:
Britain
Germany
The Netherlands
China
India
Correct answer:
China
Explanation:
Throughout the history of civilization, the value and supply of money had generally been tied to the supply of precious metals - typically gold and silver. The Chinese government switched to paper money during the ninth century. The switch to paper money allows governments more flexibility with currency manipulation and countries that operate with paper money are more resistant to fluctuations in the market.
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