why are demand deposits considered as money in modern day?
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demand deposits are consideredas a form of money?? Demand deposits are considered as money, because they can be withdrawn when required and the money withdrawn can be used for making payments. So, they are also considered as money in themodern economy
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Explanation:
Demand deposits considered as money due to the following reasons.
(i) These can be withdrawn from the bank whenever it is required.
(ii) They are widely accepted as a means of payment, along with the currency or a cheque instead of cash.
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