In defining money as M1, economists exclude time deposits because
A) the intrinsic value of time deposits is nil.
B) the purchasing power of time deposits is much less stable than that of checkable deposits and currency.
C) they are not directly or immediately a medium of exchange.
D) they are not recognized by the federal government as legal tender.
Correct Answer:
Verified
Q3: To say that coins are "token money"
Q14: Purchasing groceries using a debit card best
Q15: The M2 money supply includes
A)stock certificates.
B)currency in
Q17: Currency (paper money plus coins) constitutes about
A)
Q18: To say money is socially defined means
Q20: Currency held in the vault of First
Q21: Assuming no other changes, if checkable deposits
Q22: Checkable deposits include
A)both large- and small-denominated time
Q23: Currency held in bank vaults The M2
Q54: If the price index rises from 200
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