Developments in the financial industry in recent years have resulted in a multitude of types of deposits.For the purposes of studying the money supply,the most important distinction is between chequing and savings deposits which are ________ and term deposits and other financial assets which are ________.

Question

Quizplus · Accepted Answer

Chequing and savings deposits are considered media of exchange because they can be readily used for transactions, whereas term deposits and other financial assets are not typically used directly for transactions.

Developments in the Financial Industry in Recent Years Have Resulted