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Which of the following statements is correct? A) Money is the cash (coins and notes) used as the medium of exchange to purchase goods and
Which of the following statements is correct? A) Money is the cash (coins and notes) used as the medium of exchange to purchase goods and services. B) Bank money is the total money in the savers' deposit accounts at the bank. C) Base money is broad money minus legal tender held by banks plus bank money. D) Liquidity transformation occurs when the banks transform liquid deposits into illiquid loans
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