Question: 4. Checks that people write are A) the largest component of the money supply. B) not money. C) only part of M2 but not part

4. Checks that people write are A) the largest component of the money supply. B) not money. C) only part of M2 but not part of M1. D) part of M1 but not part of M2.5. Which of the following is TRUE? I. Checks are considered money because they can be used as a medium of exchange. II. Checks represent a transfer of money

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