The Official Reserve Account Includes All of the Following EXCEPT

question 36

Multiple Choice

The official reserve account includes all of the following EXCEPT

• A)gold.
• B)SDRs.
• C)foreign currencies.
• D)silver and other precious metals.

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Definitions:

M1

A category of the money supply that includes all physical money like coins and currency, as well as demand deposits, and other liquid assets quickly convertible to cash.

M2

A measure of the money supply that includes cash, checking deposits, and easily convertible near money such as savings deposits, money market securities.

Savings Account

A deposit account held at a financial institution that provides principal security and a modest interest rate.

Traveler's Checks

A preprinted, fixed-amount check designed to allow the person signing it to make an unconditional payment to someone else as a result of its being counter-signed.