Why are demand deposits considered as money.
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Why are demand deposits considered as money.
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Answer:
Answer:
Why are demand deposits considered as money.
(i) Demand deposits can be withdrawn from the bank whenever it is required.
(ii) They are widely accepted as a means of payment, along with the currency, thus they aqre considered as money.
(iii) They are accepted widely as means of payment by way of a cheque instead of cash.
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