Assets that can readily be converted into cash, such as government bonds.
- Such near money might become an attractive alternative to demand deposits.
- But as technology continues to revolutionize our financial system, the identification of particular claims as money, near money, or a store of future value has become exceedingly difficult.
- The solution suggested is ad hoc, and the problem of controlling inflation could be treated better by the control of the money supply and the near money substitutes.
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Syllabification: near mon·ey
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