Question

Why are demand deposits considered as money?

Answer 1

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1. The is it can be demand deposits can be withdrawn on demand.
2. The demand deposits possesses the essential characteristics of money that is medium of exchange.
3. Since demand deposit are accepted widely as a means of payment, along with currency, because cute money in the modern economy.

Answer 2

Answer:

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➽The facility of demand deposits makes it possible to directly settle payments without the use of cash. ... Demand deposits are accepted widely as a means of payment, along with currency, they constitute money in the modern economy.✔️