All of the following are included in M1 EXCEPT
A) coin and currency.
B) money market mutual fund shares.
C) traveler's checks.
D) checking account balances.
B
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A bank creates money when it
a. gets new demand deposits that the depositor formerly held as cash b. has a loan paid off, which creates excess reserves for the bank c. makes a loan from its excess reserves d. holds back excess reserves because of an increase in the legal reserve requirement e. gets more excess reserves because of a decrease in the legal reserve requirement
Which of the following would be most likely to push stock prices higher?
a. higher interest rates and the expectation of larger future corporate profits b. higher interest rates and the expectation of smaller future corporate profits c. lower interest rates and the expectation of larger future corporate profits d. lower interest rates and the expectation of smaller future corporate profits