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

Developments in the Financial Industry in Recent Years Have Resulted