Personal Fixed-Term Savings Deposits Are Included in M2+ Rather Than

Personal fixed-term savings deposits are included in M2+ rather than M1 because

A) they are available only to institutions,not to individuals.
B) they can be used as a medium of exchange,but are not as useful as the components of M1 as a store of value.
C) they can be used as a medium of exchange,but are less useful because of restrictions on their use for transactions.
D) they can easily be turned into cash for transaction purposes,but cannot be used directly as a medium of exchange.