Economics · Money and Banking
In the conventional approach to monetary economics, which of the following is specifically defined as 'quasi-money' (or near-money)?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1All forms of physical fiat currency
- 2Media of exchange universally accepted as legal tender
- 3Narrow money (M1) aggregates
- 4Financial instruments that are not direct media of exchange but act as close substitutes✓
Correct answer
Financial instruments that are not direct media of exchange but act as close substitutes
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