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Checkable deposits are money because they are:

a. acceptable in exchange.

b. fiat money.

c. legal tender.

d. token money.

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Raushan Raj
Raushan RajLv8
28 Sep 2019

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Related questions

In defining money as M1, economists exclude time deposits because:

a. the intrinsic value of time deposits is nil.

b. the purchasing power of time deposits is much less stable than that of checkable deposits and currency.

c. they are not directly or immediately a medium of exchange.

d. they are not recognized by the Federal government as legal tender.

1. If you write a check on a bank to purchase a used Honda Civic, you are using money primarily as:

a. A medium of exchange.

b. A store of value.

c. A unit of account.

d. An economic investment.

2.Β To say that coins are "token money" means that:

a. Their face value is less than their intrinsic value.

b. Their face value is greater than their intrinsic value.

c. Their face value is equal to their intrinsic value.

d. They are not legal tender.

This type of money is not required to be declared legal tender, and therefore people are not required by law to accept it as a means of payment. It can be requested to exchange it for a commodity if requested by the bearer. Examples would include a cheque, banknote, or draft. What type of money is being described?
Group of answer choices
Commodity money
Fiduciary money
Fiat money

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