Which of the Following Is NOT Included in the M1

question 505

Multiple Choice

Which of the following is NOT included in the M1 measure of money?

• A) checking deposits at commercial banks
• B) currency held outside banks
• C) currency held in bank vaults
• D) checking deposits at credit unions

---

Definitions:

Cumulative Wages

The total amount of wages earned by an employee over a specified period, including all bonuses, overtime, and other earnings.

Taxable

Refers to income, goods, or services subject to taxation under the laws of a tax jurisdiction.

Withholding Allowance

An allowance an employee claims to reduce federal income tax withheld from their paycheck, based on their expected tax liabilities and dependents.

Monthly Wages

The total compensation a worker receives within a month, often for salaried and hourly employees.