Are checkable deposits really money?
A) No, because they are only commercial bank liabilities, not government liabilities.
B) No, because they are ultimately only entries in the balance sheets of commercial banks.
C) Yes, because they can be converted on demand into currency or coin.
D) Yes, because they can be used to make purchases and pay debts.
D
Economics
You might also like to view...
The aggregate demand for good X is Q = 20 - P, and the market price is P = $8. What is the maximum amount that consumers are willing to pay for the quantity demanded at this price?
A) $72 B) $96 C) $144 D) $168
Economics
When Goodyear increases its production when Michelin reduces its production, Goodyear is playing a
A) negative-sum game. B) cooperative game. C) non-cooperative game. D) reaction function game.
Economics