A (n) ____________________ is necessary for the monetary system to carry out the financial function of transferring money, which in turn is a requirement for an effective financial system.
A) internet banking system
B) electronic data transfer system
C) wire transfer system
D) efficient payments mechanism

Question

Quizplus · Accepted Answer

An efficient payments mechanism is necessary for the monetary system to function effectively in transferring money, which is a requirement for a healthy financial system. The other options (internet banking, electronic data transfer system, and wire transfer system) are all examples of mechanisms that contribute to an efficient payments system, but they alone are not sufficient for the monetary system to carry out its financial function.

A (N) ____________________ Is Necessary for the Monetary System to Carry