Personal fixed-term savings deposits are included in M2+ rather than M1 because they can easily be turned into cash for transaction purposes, but cannot be used directly as a medium of exchange. they can be used as a medium of exchange, but are less useful because of restrictions on their use for transactions. they are available only to institutions, not to individuals. they can be used as a medium of exchange, but are not as useful as the components of M1 as a store of value.

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Answer They can be used as a medium of exchange but are less useful because of re... View the full answer