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Question
Banks use public deposits of money to create loans. Here money is mainly acting as ______.
Options
Store of value
Measure of value
Basis of credit
Medium of exchange
MCQ
Fill in the Blanks
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Solution
Banks use public deposits of money to create loans. Here money is mainly acting as basis of credit.
Explanation:
Deposited money forms the base on which banks create credit and grant loans.
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