What Proportion of M1 Is Accounted for by Checkable Deposits

question 17

Multiple Choice

What proportion of M1 is accounted for by checkable deposits and traveler's checks?

• A)about 10%
• B)about 25%
• C)about 40%
• D)about 55%
• E)about 75%

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Definitions:

Variance

The difference between planned or expected outcomes and the actual outcomes in finance and accounting.

Cost Drivers

Factors that cause a change in the cost of an activity, used in activity-based costing to allocate costs accurately.

Revenue Variances

The difference between actual revenue and budgeted or projected revenue.

Spending Variances

The difference between actual spending and budgeted or planned spending in various categories.