Behind all forms of "near money" stands
A) government gold reserves.
B) colored rocks.
C) merchants' reluctance to accept them.
D) people's faith in their resistance to counterfeiting.
E) people's faith in their ability to exchange them for currency.

Question

Quizplus · Accepted Answer

Traveler's checks,money orders,and cashier's checks are other common forms of "near money." Although each is slightly different from the others,they all share a common characteristic: A financial institution,bank,credit company,or neighborhood currency exchange issues them in exchange for cash and guarantees that the purchased note will be honored and exchanged for cash when it is presented to the institution making the guarantee.

Behind All Forms of "Near Money" Stands