Credit cards were introduced in 1959. In 2009,the U.S.credit card balance was $866 billion. Which of the following is true?
A) The $866 billion balance is part of M2 but not part of M1.
B) The $866 billion balance is part of both M1 and M2.
C) Only that portion of the $866 billion actually charged in 2009 is counted in M1 and M2.
D) No part of the $866 billion balance is counted in M1 and M2.
Correct Answer:
Verified
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