Checking Accounts Perform the Same Market Functions as Cash

question 24

True/False

Checking accounts perform the same market functions as cash.
The essence of money isn't its taste,color,or feel,but rather its ability to purchase goods and services.

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Definitions:

Equilibrium Wage

The wage rate at which the quantity of labor demanded by employers equals the quantity of labor supplied by workers.

Payroll Tax

A tax imposed on employers or employees, and is usually calculated as a percentage of the salaries that employers pay their staff.

Tax Collections

The process by which governmental authorities, such as the IRS in the United States, collect taxes from individuals and businesses.

Payroll Tax

Taxes imposed on employers or employees, usually calculated as a percentage of the salaries that employers pay their staff.