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Which of the following is NOT included in the M3 definition of money?
Managerial Options
Options given to executives and managers as part of their compensation package, allowing them to purchase company stock in the future at a price set today.
Tactical Opportunities
Investment strategies that aim to exploit short-term market inefficiencies to generate returns.
Capital Budgeting
The process businesses use to evaluate and select long-term investments that are expected to yield returns over a period of time.
Marginal Cost
The increase in total cost that arises from producing one additional unit of a product or service.
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