M1 refers to:
a. Federal Reserve Notes and gold certificates.
b. Currency held by the public plus checking account balances.
c. The largest of the money-supply definitions.
d. None of these.
b
You might also like to view...
Credit cards were introduced in 1959. In 2014, the U.S. credit card balance was $880 billion. Which of the following is TRUE?
A) The $880 billion balance is part of M2 but not part of M1. B) The $880 billion balance is part of both M1 and M2. C) Only that portion of the $800 billion actually charged in 2009 is counted in M1 and M2. D) No part of the $880 billion balance is counted in M1 and M2.
A lending of a country's savings that occurs when the country has a trade deficit and its citizens purchase real and financial assets from abroad is called a capital inflow
Indicate whether the statement is true or false