Checkable deposits are money because
a. checks bounce when there are not enough funds to cash them.
b. they are guaranteed by banks.
c. only banks and other financial institutions can offer them.
d. they are protected by the federal reserve.
e. they can be converted into currency on demand and are used directly as a means of payment.

Three years ago, the city of recker committed to build a park and music venue by the river. it was expected to cost $2.5 million and be paid for from an additional meals tax in the community. the residents pushed back. local restaurants suffered as people ate out less or patronized restaurants in neighboring communities. the project has stalled, but the town council kept pushing it on. this spring, a flood devastated the venue. the town council appears to have suffered from bias