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
E)none of the above

Question

Quizplus · Accepted Answer

An efficient payments mechanism is necessary for the monetary system to transfer money effectively and carry out its financial function. Options A, B, and C are types of payments systems that can be utilized within an efficient payments mechanism, but they alone do not provide a complete solution.

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