The reason why people are putting more funds in checking and savings account rather than in time deposits is that
A. checking and savings account accept fiat money, while time deposits do not.
B. long-term interest rates have declined in recent years, relative to short term interest rates.
C. liquidity of money held in checking and savings accounts is less than that of money held in time deposits.
D. only a few banks accept time deposits, while most banks accept checking and savings accounts.
Answer: B
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