{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

aq27Feb - is if this was included we would be double...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
27 February Which of the following are NOT included in the definition of M1 money? a. Dollar bills held by the public b. US coins held by the public c. Balances in accounts with banks you can write checks on d. Currency in the teller’s drawer in a bank : this is not part of M1, because c. above
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: is; if this was included, we would be double counting and when you took cash out of your checking account, the money supply would go down – although obviously it does not. Only currency outside the banks is part of the money supply. e. Travelers’ checks...
View Full Document

{[ snackBarMessage ]}

Ask a homework question - tutors are online