Which of the following is false?
A) Demand deposits and other checkable deposits have replaced paper and metallic currency as the major source of money used for transactions in the United States.
B) Credit cards are not money; they are substitutes for the use of money in exchange.
C) Most of the money that we use for day-to-day transactions is not official legal tender.
D) Our money is money because of confidence that we have in private financial institutions as well as our government.
E) None of the above is false; all are true.
Correct Answer:
Verified
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