Why are demand deposits (chequing accounts) classified as money?
A) Because they can be readily used in making purchases and for the payment of debts.
B) Because they earn interest income for the depositor.
C) Because they are ultimately the obligations of the government.
D) Because banks hold currency equal to the value of their outstanding deposits.
E) Because they are insured by the Canadian Deposit Insurance Company.
Correct Answer:
Verified
Q22: Below is a list of financial assets:
1.Certificates
Q23: What is meant by the term "the
Q24: Only one of the following is part
Q25: What is the approximate value of the
Q26: Below is a list of financial assets:
1.Certificates
Q28: Below is a list of financial assets:
1.Certificates
Q29: Below is a list of financial assets:
1.Certificates
Q30: What is the difference between the M1
Q31: What is the book value of a
Q32: The Canada Deposit Insurance Corporation insures each
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents