alleryMoney in its modern form is
Acurrency notes plus bank deposits accepted as a medium of exchange
Bonly metal coins
Conly gold ornaments
Donly foreign currency
Answer & Solution
Correct answer: A. currency notes plus bank deposits accepted as a medium of exchange
1. Modern money includes currency (notes and coins) and demand deposits with banks.
2. Both are accepted as a medium of exchange to settle transactions.
3. Cheques drawn against demand deposits are used as money.
_Source: syllabus Understanding Economic Development, Ch 3 "Money and Credit"_
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