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Near monies are important for all the following reasons BUT: 1) because they can be converted into checkable deposits and thereby affect macroeconomic stability 2)

"Near monies" are important for all the following reasons BUT:

1) because they can be converted into checkable deposits and thereby affect macroeconomic stability

2) because they complicate defining money and therefore complicate the formulation of monetary policy

3) because they are likely to affect the level of consumer spending

4) because they represent the amount of available money in circulation

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