Which of the following is not included in the narrowest definition of the money supply or M1?

Question

Quizplus · Accepted Answer

Credit card balances are not included in the narrowest definition of the money supply or M1. The narrowest definition only includes currency in circulation, transactions account balances (such as checking accounts), and traveler's checks. Credit card balances represent debt and are not considered part of the money supply until they are paid off and converted into transactions account balances.

Which of the Following Is Not Included in the Narrowest