Personal Fixed-Term Savings Deposits Are Included in M2+ Rather Than

question 44

Multiple Choice

Personal fixed-term savings deposits are included in M2+ rather than M1 because

• A)they are available only to institutions,not to individuals.
• B)they can be used as a medium of exchange,but are not as useful as the components of M1 as a store of value.
• C)they can be used as a medium of exchange,but are less useful because of restrictions on their use for transactions.
• D)they can easily be turned into cash for transaction purposes,but cannot be used directly as a medium of exchange.

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