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The income elasticity of demand is________.
M1 Money Supply
This term describes a category of the money supply that includes all physical money like coins and currency, as well as demand deposits and other liquid assets held by the central bank.
Checkable Deposits
Bank accounts that allow the account holder to write checks or use electronic debit to access funds, including both checking and demand deposit accounts.
Federal Reserve Notes
The physical banknotes issued by the Federal Reserve, serving as the national currency of the United States.
Paper Money
Currency issued by a government or central bank in the form of paper notes and used as legal tender for transactions.
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