Checkable Deposits Are Money Because

question 368

Multiple Choice

Checkable deposits are money because

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

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