Economics

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token money

the face value of any piece of currency is unrelated to its intrinsic value

Thrift institutions

Savings and loan associations (S&Ls), mutual savings banks, and credit unions

near-monies

highly liquid financial assets that do not function directly or fully as a medium of exchange but can be readily converted into currency or checkable deposits

Commercial banks

primary depository institutions

liquidity

the ease with which an asset can be converted quickly into the most widely accepted and easily spent form of money, cash, with little or no loss of purchasing power.


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