객관식
Which of the following is NOT included in the M1 money supply as currency held by?
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17. The Monetary System
Defining the Money Supply: M1 and M2
객관식
What is the difference between M1 and M2?
A
M1 = a broader aggregate including savings and time deposits; M2 = a narrower aggregate made up only of currency and demand deposits.
B
M1 = the money supply adjusted for inflation; M2 = the nominal money stock without any inflation adjustment.
C
M1 = currency and savings accounts; M2 = M1 plus only large time deposits and institutional money-market funds.
D
M1 = most liquid transaction assets (currency, demand deposits, traveler’s checks, other checkable deposits); M2 = M1 plus near-monies (savings deposits, small time deposits, retail money-market funds).
검증된 단계별 안내1
Step 1: Understand that M1 and M2 are measures of the money supply used in macroeconomics to gauge liquidity in the economy.
Step 2: Recognize that M1 represents the most liquid forms of money, which include currency (physical cash), demand deposits (checking accounts), traveler's checks, and other checkable deposits that can be quickly used for transactions.
Step 3: Know that M2 is a broader measure that includes all components of M1 plus additional assets called 'near-monies' which are less liquid but can be converted into cash relatively easily. These include savings deposits, small time deposits (like certificates of deposit under a certain amount), and retail money-market mutual funds.
Step 4: Differentiate between M1 and M2 by noting that M1 focuses on money readily available for spending, while M2 includes M1 plus assets that serve as stores of value and can be converted into spending money with some delay or minor cost.
Step 5: Summarize that the key difference is liquidity: M1 is the narrowest and most liquid money aggregate, while M2 is broader, encompassing M1 and near-monies that are slightly less liquid.
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