Suppose You Transfer $1000 from Your Cheque Account to Your

question 67

Multiple Choice

Suppose you transfer $1000 from your cheque account to your savings account.How does this action affect the M1 and M3 money supplies?

• A)M1 and M3 are both unchanged.
• B)M1 falls by $1000 and M3 rises by $1000.
• C)M1 is unchanged and M3 rises by $1000.
• D)M1 falls by $1000 and M3 is unchanged.
• E)It depends on MPS.

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