Question 18
Money and InflationWhich of the following is not regarded as money in Economics?
- A.Coins
- B.Currency notes
- C.Bank deposits
- D.Cheques
- E.Naira and kobo.
Show the answer and explanation
Answer: D (Cheques)
Explanation
A cheque is only an order to a bank to pay money from a deposit; the deposit is money, the cheque is not.