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Q.

People spend the extra money that they have with them.

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a

True

b

False

answer is B.

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Detailed Solution

The above statement is false.
People receive salaries either at the end of the month or at the beginning. That means they have extra cash at the beginning of the month. People deposit this extra money in banks, and banks also pay an amount called interest on the deposits. People don't spend the entire extra money that they have with them. The deposits made can be withdrawn anytime by people, as and when they require it. Because the deposits made can be withdrawn on demand, these deposits are called demand deposits. People's money is safe with the banks, and they also earn interest.

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