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Principles of Macroeconomics (Mind...

8th Edition
N. Gregory Mankiw
Publisher: Cengage Learning
ISBN: 9781305971509

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BuyFindarrow_forward

Principles of Macroeconomics (Mind...

8th Edition
N. Gregory Mankiw
Publisher: Cengage Learning
ISBN: 9781305971509
Chapter 16, Problem 3QR
Textbook Problem
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What are demand deposits and why should they be included in the stock of money?

To determine
Demand deposits and why they are included in stock of money.

Explanation of Solution

Money is anything which is accepted as payment to the goods and services from a market. It acts as a medium of exchange, store of value, unit of account, and so forth. Any commodity that is being accepted by the economy for this purpose is considered as money. It is usually metal coins and paper currencies.

The demand deposits are the deposits that the general public has with the banks...

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Chapter 16 Solutions

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