Determine whether each of the following is included in both M1 and M2 or M2 only:               a. a Connecticut quarter               b. a savings account at a local savings bank               c. a share draft account at a credit union               d. money market deposit accounts               e. American Express travelers’ checks

Macroeconomics
13th Edition
ISBN:9781337617390
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter12: Money, Banking And The Financial System
Section: Chapter Questions
Problem 12QP
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Determine whether each of the following is included in both M1 and M2 or M2 only:

 

            a. a Connecticut quarter

 

            b. a savings account at a local savings bank

 

            c. a share draft account at a credit union

 

            d. money market deposit accounts

 

            e. American Express travelers’ checks

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