Checks and Credit Cards Are NOT Considered Part of M1

question 406

Multiple Choice

Checks and credit cards are NOT considered part of M1 because

• A) both are liquid components of M2.
• B) not everyone has a checking account or a credit card.
• C) they are issued by banks.
• D) they are not the means of payment to transfer funds; currency or funds in your checking account are the means of payment.

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