M2 Consists of

question 140

Multiple Choice

M2 consists of

• A)M1 plus traveler's checks.
• B)M1 plus saving deposits,small time deposits,and money market funds.
• C)M1 plus checkable deposits.
• D)M1 plus currency at the banks.
• E)M1 plus Federal Reserve notes.

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Definitions:

Period Costs

Expenses that are not directly tied to the production of goods and are instead accounted for as expenses in the period they are incurred.

Direct Materials

The raw materials directly traced and integral to the finished product in the manufacturing process.

Work in Process

Inventory that includes goods partially through the production process but not yet complete.

Machinery Repairs

Machinery Repairs refer to the act of restoring equipment or machinery to a condition where it can operate as intended, involving fixing and replacing parts as necessary.