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Practice Listening: Select Missing Word ID: #30196 Short Paper Money
Instructions ›
You will hear a recording about a topic. At the end of the recording the last word or group of words has been replaced by a beep. Select the correct option to complete the recording.

Transcript:

The Chinese were, as far as we know, the inventors of paper money and because it was so easy to move around compared with coins, it was named "flying money". They were also the first to experience an economic problem which has become all too familiar: by the 12th century, there was enough money in circulation to cause serious inflation.
In Europe, it wasn't until about 1400 that bankers in Spain and Italy began to honor "bills of exchange", which were a kind of private paper money not in general use. They were documents used by those involved in a business transaction in which payment was made through a third party to avoid the cost of foreign exchange. However, it is the Swedes who are generally credited with producing the first proper European bank -
* Click on the correct answer

Result:

AI explanationShows the answer. Tap to open.
Option 1: "notes"

Explanation: The text discusses the evolution of paper money and mentions that the Swedes are credited with producing the first proper European bank. The term 'notes' fits well in this context as it refers to banknotes, which are a form of paper money. This aligns with the overall theme of the text regarding the development of currency and banking systems.

Option 2: "accounts"

Explanation: The term 'accounts' refers to financial records or ledgers, which do not directly relate to the context of paper money or the establishment of banks. The text focuses on the physical form of currency rather than the record-keeping aspect, making this option irrelevant.

Option 3: "drafts"

Explanation: While 'drafts' can refer to a type of financial instrument, it does not specifically relate to the context of paper money as discussed in the text. The text emphasizes the invention of paper money and the establishment of banks, making 'drafts' an unsuitable choice.

Option 4: "paper"

Explanation: Although 'paper' is related to the concept of paper money, it is too broad and does not specifically complete the sentence in a meaningful way. The text is focused on the specific type of currency, which is better captured by the term 'notes'.

Option 5: "charges"

Explanation: The term 'charges' typically refers to fees or costs associated with transactions, which is not relevant to the discussion of paper money or banking. The text does not mention any fees or charges, making this option incorrect.

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