ANSWERS: 4
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Perhaps it's a shortening of the old English expression "making money hand over fist". You can read about it here: http://www.voanews.com/specialenglish/archive/2008-03/2008-04-07-voa2.cfm
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Not so. Banks also make money out of nothing. They don't "earn" it. I don't have an actual answer for you, though.
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Perhaps when we went to a service economy, from a production economy, were we actually did produce something, candlesticks, oats, wheels, anvils, whatever, the thing that was now being 'made' was money.
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Making money and earning money are synonymous terms and have always been used to mean the same thing.
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