When Depositors Transfer Funds from Savings Accounts to Checking Accounts

When depositors transfer funds from savings accounts to checking accounts,

A) M2 falls and M1 rises, while M3 remains constant
B) M1 rises while M2 and M3 remain constant
C) both M1 and M2 increase, while M3 falls
D) M3 falls while M1 and M2 remain constant
E) M1 falls, M3 rises, and M2 remains constant