define bank money iiii
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Answer:
Bank money refers to money held in the form of demand deposits with commercial banks.
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Answer:
medium of exchange consisting chiefly of checks and drafts.
Explanation:
Dollar bills are an example of fiat money because their value as slips of printed paper is less than their value as money. Bank money consists of the book credit that banks extend to their depositors. Transactions made using checks drawn on deposits held at banks involve the use of bank money.
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