Which does M1 include?
a. Coins and currency in circulation, checkable deposits, and credit cards
b. Coins and currency in circulation, checkable deposits, and savings accounts
c. Coins and currency in circulation checkable deposits, and traveler’s checks
d. Coins and currency in circulation, coins and currency owned by banks, and traveler’s checks
c. Coins and currency in circulation checkable deposits, and traveler’s checks
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Discretionary fiscal policy is a fiscal policy action, such as
A) a decrease in tax receipts, initiated by the state of the economy. B) an increase in payments to the unemployed, initiated by the state of the economy. C) an interest rate cut, initiated by an act of Congress. D) an increase in the quantity of money. E) a tax cut, initiated by an act of Congress.
If float is predicted to increase because of bad weather, the manager of the trading desk at the New York Fed bank will likely conduct ________ open market operations to ________ reserves
A) defensive; inject B) defensive; drain C) dynamic; inject D) dynamic; drain