Credit cards were introduced in 1959. In 2014, the U.S. credit card balance was $880 billion. Which of the following is TRUE?
A) The $880 billion balance is part of M2 but not part of M1.
B) The $880 billion balance is part of both M1 and M2.
C) Only that portion of the $800 billion actually charged in 2009 is counted in M1 and M2.
D) No part of the $880 billion balance is counted in M1 and M2.
D
You might also like to view...
To be a positive economic statement, an assertion must be true
a. True b. False Indicate whether the statement is true or false
One way to measure national debt over time is debt relative to:
a. the cash flow of the banking system. b. the economy's production and income. c. credit sales of consumer durables over a year. d. national home sales in large cities.
If a consumer buys a good, we know that their willingness to pay:
A. is greater than its price. B. is less than its price. C. is equal to its price. D. is either greater than or equal to its price.
A person who is willing to bear more risk will buy
A. common stock. B. government bonds. C. preferred stock. D. bonds.