Magellan and His Expedition of Five Ships Returned to Spain

question 55

True/False

Magellan and his expedition of five ships returned to Spain after circumnavigating the globe.

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Definitions:

M1

The narrow measure of the money supply, consisting of currency and coins held by the nonbanking public, checkable deposits, and traveler’s checks.

M1

M1 is a category of the money supply that includes all physical money like coins and currency, as well as demand deposits and other liquid assets held by the central bank.

M2

A measure of the money supply that includes all elements of M1 (such as cash and checking deposits) plus "near money" like savings deposits, money market securities, and other time deposits, which are less liquid and not as easily converted to physical cash.

Depositors

Individuals or entities that place their money in a bank for safekeeping and earn interest over time.