Refer to the Accompanying Table

question 138

Multiple Choice

$$\begin{array} { | l | c | } \hline { \text { Item } } & \text { Billions of Dollars } \\\hline \text { Checkable Deposits } & \$ 598 \\\hline \text { Small Time Deposits } & 818 \\\hline \text { Currency } & 644 \\\hline \text { Money-Market Mutual Funds Held by Businesses } & 1,045 \\\hline \text { Savings Deposits, Including Money-Market Deposit Accounts } & 2,866 \\\hline \text { Money-Market Mutual Funds Held by Individuals } & 979 \\\hline\end{array}$$ Refer to the accompanying table. The size of the M1 money supply is

• A) $1,242 billion.
• B) $598 billion.
• C) $644 billion.
• D) $2,060 billion.

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Definitions:

Corporation

A legal entity distinct from its owners, offering limited liability to its shareholders, and capable of owning assets, incurring debt, and conducting business.

Partnership

A formally established business entity where two or more counterparts participate in managing the firm and splitting the profits.

Proprietorship

A form of business organization where a single individual owns and operates the business.

Liabilities

Financial obligations or debts owed by a business to another entity, payable in money, goods, or services.