Paper and metallic currency have replaced demand deposits and other checkable deposits as the major source of money used for transactions in the United States.

Question

Quizplus · Accepted Answer

This statement is false. While paper and metallic currency are still used for transactions, the majority of money used for transactions in the United States comes in the form of demand deposits and other checkable deposits, which are digital and not physical.

Paper and Metallic Currency Have Replaced Demand Deposits and Other