Refer to the Following Table to Answer the Following Questions

question 151

Multiple Choice

Refer to the following table to answer the following questions:
-Which of the following is NOT considered part of M2?

• A) currency
• B) money
• C) traveler's checks
• D) credit cards
• E) checkable deposits

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Definitions:

Progressive Tax

A taxation system where the tax rate increases as the taxable amount or income of the individual or entity increases.

Benefits-Received Principle

A taxation theory stating that individuals should pay taxes in proportion to the benefits they receive from government services.

Gasoline Tax

A levy imposed by governments on the sale of gasoline, often used to fund transportation infrastructure and environmental initiatives.

Corporate Income Tax

A tax on the profit of a corporation, where the tax rates can vary based on a country's tax laws and the company's income levels.