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5 April, 23:07

What is the money in checking accounts referred to as?

a. a demand deposit

b. fractional reserve banking

c. interest

d. a money supply

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Answers (1)
  1. 5 April, 23:30
    0
    Answer: a. a demand deposit

    The money in checking accounts referred to as a demand deposit.

    Explanation:

    A demand deposit refers to an account with a bank or other financial institution from which deposited funds can be withdrawn at any time. This type of account allows depositors to withdraw any or all of the funds at any time without penalty or prior notice. It has greater liquidity but pay lower interest rates. Examples of demand deposit account include is checking or savings account.
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