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Are checkable deposits really money? a) Yes, because they can be used to make purchases of goods and services b) No, because they are only

Are checkable deposits really money?

a) Yes, because they can be used to make purchases of goods and services

b) No, because they are only commercial bank liabilities

c) No, because they are ultimately only entries in the balance sheets of banks

d) Yes, because they can be converted on demand into currency

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