Money Supply M1 Does Not Include the Currency Held by

question 96

Multiple Choice

Money supply M1 does not include the currency held by

• A) households in their wallets or purses.
• B) business firms.
• C) commercial banks.
• D) state and local governments.

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Definitions:

20th Century

A period extending from January 1, 1901, to December 31, 2000, marked by significant technological, social, and political changes worldwide.

Federal Spending

Expenditures made by the government of a country on national-level services and projects.

Medicare

A federal health insurance program in the United States for people aged 65 and older, certain younger people with disabilities, and people with End-Stage Renal Disease.

Medicaid

A government-funded program in the United States that provides health insurance to low-income individuals and families.