What is the major component of the Canadian M1 money supply?

Question

Quizplus · Accepted Answer

Demand deposits, also known as checking account balances, are the largest component of M1 money supply in most countries including Canada. They are easily accessible and can be used to make payments and purchases. While paper money, coins, and savings accounts are also part of the M1 money supply, they typically make up a smaller portion compared to demand deposits. Gold certificates are not part of the Canadian money supply.

What Is the Major Component of the Canadian M1 Money