The difference between M1 and M2 is given by which of the following?
A. M1 includes currency, coins, gold and silver, whereas M2 does not contain gold and silver.
B. M1 is made up of currency and money in checkable accounts, whereas M2 contains M1 plus savings deposits and time deposits.
C. M1 is limited to currency, whereas M2 contains M1 plus money in checkable accounts.
D. M1 includes currency, whereas M2 contains M1 plus money in checking accounts.
Answer: B
You might also like to view...
Sudden and extensive changes in property rights make social cooperation less effective by
A) encouraging excessively conservative attitudes. B) inducing people to save for the future rather than spending now. C) making planning more difficult. D) reducing the power of government to manage the economy.
Davis and Huttenback (1982) find evidence to support the claim that the colonists were overtaxed by England
Indicate whether the statement is true or false