In Defining the Money Supply (M1),economists Exclude Savings Deposits on the Grounds

In defining the money supply (M1) ,economists exclude savings deposits on the grounds that

A) the purchasing power of savings deposits is much less stable than that of checkable deposits and currency.
B) savings deposits are a form of investment and,thus,a better store of value than money.
C) savings deposits are liabilities of commercial banks,whereas checkable deposits are assets of the banks.
D) savings deposits are not generally used as a means of payment.