Checkable Deposits Are Money Because

question 118

Multiple Choice

Checkable deposits are money because

• A)only banks and other financial institutions can offer them.
• B)they are protected by the Federal Reserve.
• C)they are guaranteed by banks.
• D)they can be converted into currency on demand and are used directly as a means of payment.
• E)checks bounce when there are not enough funds to cash them.

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Definitions:

Broca's Area

A region in the frontal lobe of the dominant hemisphere (usually the left) of the brain with functions linked to speech production.

Wernicke's Area

A region of the brain that is important for language development; it is associated with the comprehension or understanding of written and spoken language.

Left Cerebral Hemisphere

The left cerebral hemisphere is the half of the human brain that is typically associated with analytical thought, language, and logic.

Posterior Cerebral Hemisphere

Refers to the back portion of the cerebral hemisphere, responsible for processing visual and spatial information.