Write M1 next to each of the following items that is part of the M1 money supply;
Question:
Write “M1” next to each of the following items that is part of the M1 money supply; write “M2” next to the items that are part of the M2 money supply.
a. Currency in circulation
b. Currency held by the Federal Reserve
c. Checkable deposits
d. Traveler’s checks
e. Deposits in savings accounts
f. Time deposits under $100,000
g. Retail money market mutual funds
h. Stocks
i. Credit cards
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a M1 b M1 c M1 d M1 e M2 f M2 g M2 h Not included in M1 or M2 i Not included in M1 or M2 Explanation ...View the full answer
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