Explain which of the following count as money
a. a check in Ann's checkbook
b. currency in Ann's bank
c. currency in Ann's purse
d. Ann's checking deposit
Only parts (c), currency in Ann's purse, and (d), Ann's checking deposit, are money. Ann's check, given in part (a), is a method of transferring money from Ann to someone else. Thus the check (itself) is not money. Part (b), the currency in Ann's bank, is not money until someone withdraws it because currency inside a bank does not count as money.
You might also like to view...
Auto workers laid off from Hot-Rod Autoworks as the result of a recession are considered
A) seasonally unemployed. B) frictionally unemployed. C) structurally unemployed. D) cyclically unemployed.
Taxes on emissions have
A. led to firms discovering costless methods of extraction of pollutants from liquid discharges. B. led to increased waste disposal of pollutants. C. led to voluntary reduction in emissions to avoid the taxes. D. not been an efficient penalty. Firms continue to pollute.