The majority of the basic money supply (M1)in the United States is in the form of

Question

Quizplus · Accepted Answer

M1, the basic money supply, includes currency in circulation and transactions accounts, which are checking accounts and other accounts from which deposits can be made by writing a check or using a debit card. Savings accounts and certificates of deposit are not included in M1 as they are not readily available for spending. Gold and traveler's checks are not significant components of the money supply in the United States.

The Majority of the Basic Money Supply (M1)in the United