Checkable Deposits Are Classified as Money Because

question 169

Multiple Choice

Checkable deposits are classified as money because

• A) they can be readily used in purchasing goods and paying debts.
• B) banks hold currency equal to the value of their checkable deposits.
• C) they are ultimately the obligations of the Treasury.
• D) they earn interest income for the depositor.

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Definitions:

Sociocultural Perspective

A psychological approach that emphasizes the influence of societal and cultural factors on individual behavior and mental processes.

Psychodynamic Perspective

A psychological approach that emphasizes the systematic study of the psychological forces that underlie human behavior, feelings, and emotions and how they might relate to early experience.

Cognitive Perspective

An approach in psychology that emphasizes the importance of mental processes in how people perceive, remember, think, and solve problems.

Learning Perspective

A theoretical viewpoint that emphasizes the role of experience and learning in shaping behavior.