Although you can use your checking account as a reserve account for your cash, much like a savings account, it may not be the best option for that purpose. Most checking accounts do not earn interest, and even those that do typically earn less than a savings account at the same financial institution.
As is the case with other forms of government in American political theory, local governments derive their power from the people; in practice, local governments receive their authorization from their respective states.
deâ¢mocâ¢raâ¢cy. 1. government by the people; a form of government in which the supreme power is vested in the people and exercised directly by them or by their elected agents under a free electoral system. 2. a state having such a form of government.3. a state of society characterized by formal equality of rights and privileges. 4. political or social equality; democratic spirit. 5. the common people, esp. with respect to their political power.. (Government, Politics & Diplomacy) government by the people or their elected representatives. 2. (Government, Politics & Diplomacy) a political or social unit governed ultimately by all its members. 3. (Sociology) the practice or spirit of social equality.