The correct statement is:
Money, M1 = currency + checkable deposits
M1 is the category of the money supply that includes physical currency (coins and paper money) as well as checkable deposits (like those in checking accounts).
Which of the following is true?
Multiple choice question.
Money, M1 = checkable deposits - currency
Currency = Money, M1 + checkable deposits
Money, M1 = currency + checkable deposits + Money, M2
Money, M1 = currency + checkable deposits
1 answer