The M1 Money Supply

question 63

Multiple Choice

The M1 money supply

• A) is composed of assets that reflect the medium of exchange function of money.
• B) is larger than the M2 money supply.
• C) includes credit card balances since they are used to purchase things.
• D) is composed of only currency.

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Definitions:

BIOS

Basic Input/Output System, firmware interface that initializes computer hardware during booting.

ROM Chip

A type of non-volatile storage that permanently stores instructions for hardware initialization. The data on it cannot be modified or can only be modified slowly or with difficulty.

Supercomputers

High-performance computing systems designed for complex computational tasks, often used in scientific and engineering calculations.

UNIX

An operating system originally conceived in 1969 by Ken Thompson and Dennis Ritchie of AT&T’s Bell Labs. In 1974, the UNIX code was rewritten in the standard programming language C. Today there are various commercial versions of UNIX.