____ Includes Currency Held by the Public and Checking Deposits

question 44

Multiple Choice

____ includes currency held by the public and checking deposits as well as savings accounts and small time deposits, money market deposit accounts, and some other items.

• A) M1
• B) M2
• C) M3
• D) None of the above

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Definitions:

Accounting Scandal

An accounting scandal involves the deliberate manipulation of financial statements to create a false or misleading appearance of a company’s financial health, often to deceive investors and regulators.

Parmalat

An Italian dairy and food corporation that became famous for a massive corporate fraud and bankruptcy scandal in 2003.

WorldCom

A telecommunications company that was involved in one of the largest accounting fraud scandals in history, leading to its bankruptcy in 2002.

Volcker Rule

Part of the Dodd-Frank Wall Street Reform and Consumer Protection Act that restricts U.S. banks from making certain kinds of speculative investments that do not benefit their customers.