It's your birthday, and your uncle opens up his wallet and gives you a $20 bill. You take the $20 and deposit it in your checking account. What is the effect of this transaction on M1 or M2? Explain.

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The Answer of It's your birthday, and your uncle opens up his wallet and gives you a $20 bill. You take the $20 and deposit it in your checking account. What is the effect of this transaction on M1 or M2? Explain.

It's Your Birthday, and Your Uncle Opens Up His Wallet