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The M2 Monetary Aggregate Contains Everything That Is in M1

question 17

Multiple Choice

The M2 monetary aggregate contains everything that is in M1 plus other assets that are highly ________ (can be turned into cash quickly at very little cost) .


Definitions:

Letter Of Credit

A binding document that a buyer can request from a bank to guarantee that the payment for goods will be made to the seller.

Invoice

A document issued by a seller to a buyer, listing goods or services provided, their prices, and payment terms.

Revocation

The act of officially withdrawing, cancelling, or annulling something, such as a license, will, or law.

Offeree

The person or entity to whom an offer is made in contract law.

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