JAMB - Economics (2003 - No. 15)
The term 'Near money' is best described as
a financial instrument that is readily convertible to cash
government financial instrument that is convertible to cash
time deposits with low interest rates
a financial asset that is convertible to cash
Forklaring
Near money refers to non-cash assets that are highly liquid and easily converted to cash. They are sometimes referred to as quasi-money or cash equivalents. Examples of near money are: Savings accounts held in commercial banks