Answered: For the following list of items,…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

For the following list of items, indicate if they are in M1, M2, or neither:

a. Your $5,000 line of credit on your Bank of America card

b. $50 dollars’ worth of traveler’s checks you have not used yet

c. $1 in quarters in your pocket

d. $1200 in your checking account e. $2000 you have in a money market account

Definition Definition Financial market that deals in securities or assets that are short-term in nature. The money market is responsible for keeping up the liquidity of the businesses and the organizations. These securities are usually held for a period of 12 months or less and are issued by institutions that require cash or funds for their short-term cash flow requirements. The money market is regulated by the federal government.

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