The Introduction of Money Market Substitutes for Basic Checking Accounts

question 89

Multiple Choice

The introduction of money market substitutes for basic checking accounts was fueled partially by the:

• A) relatively high rates of inflation that existed in the late 1970s and early 1980s.
• B) reluctance of many retailers to accept checks.
• C) high number of bank failures that were occurring in the 1970s.
• D) higher interest rates banks had to pay on checking accounts.

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