Checks That People Write Are

question 519

Multiple Choice

Checks that people write are

• A) the largest component of the money supply.
• B) not money.
• C) only part of M2 but not part of M1.
• D) part of M1 but not part of M2.

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Definitions:

United Kingdom

A sovereign country located off the northwestern coast of mainland Europe, comprising England, Scotland, Wales, and Northern Ireland.

Germany

A country in Central Europe known for its long history, rich culture, economic power, and being a major player in global politics.

NOW Account

A checking account that earns interest on balances, where NOW stands for "Negotiable Order of Withdrawal."

Debit Account

An account that records expenses or assets, increasing with a debit entry and decreasing with a credit entry.