Question: The difference between M1 and M2 is explained by which of the following? a. M1 includes currency, coins, gold, and silver, but M2 does not

The difference between M1 and M2 is explained by which of the following?

a. M1 includes currency, coins, gold, and silver, but M2 does not contain gold and silver.

b. M1 is made up of currency and checkable deposits, while M2 contains M1 plus savings deposits and small time deposits.

c. M1 is limited to checkable deposits, while M2 contains currency.

d. M1 includes only currency, while M2 contains M1 plus checkable deposits.

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