Figure 1.2 Using the Figure Above, Identify the Labeled Part

question 113

Essay

Figure 1.2

Using the figure above, identify the labeled part.
-Label M: ______________________________

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Definitions:

Debit Card

A card used for purchases that directly debits funds from the user's bank account.

Checking Account

A bank account that allows for numerous withdrawals and deposits, often used by individuals for day-to-day financial transactions.

Credit Option

An agreement that gives the buyer the right, but not the obligation, to borrow funds or extend credit under specified conditions.

M3

M3 is a measure of the money supply that includes M2 (cash, checking deposits, and easily convertible near money) plus large time deposits, institutional money market funds, and larger liquid assets.