alleryA demand deposit can be withdrawn
Aonly after one year
Bonly with prior notice of 30 days
Con demand, generally by cheque or ATM
Donly if the bank approves
Answer & Solution
Correct answer: C. on demand, generally by cheque or ATM
1. Demand deposits can be withdrawn at any time on demand.
2. Account holders use cheques, ATMs and online banking to access them.
3. This makes them effectively money.
_Source: syllabus Understanding Economic Development, Ch 3 "Money and Credit"_
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