The difference between M1 and M2 is given by
M1 is made up of currency and checkable deposits, whereas M2 contains M1 plus savings deposits and small time deposits
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Of the following views on the effects of immigration on the receiving nation's economic growth, which have NOT been suggested by economists Michael Kremer and Julian Simon?
A) Technological progress is driven by population growth. B) Immigration increases a nation's labor pool and encourages ingenuity. C) Immigration costs the local population jobs and greatly lowers their incomes. D) Immigrants raise the standard of living of a nation's native population.
If the institutions in an economy change from being inclusive to extractive, then in the economy:
A) the returns to entrepreneurship will increase. B) the opportunity cost of entrepreneurship will decrease. C) the number of entrepreneurs will decrease. D) existing entrepreneurs will earn higher profits.
Which of the following statements is correct?
A. Export sales are not important to U.S. industries because U.S. GDP is so large. B. Many U.S. industries are very dependent on export sales. C. The United States is increasingly dependent on exports, but not on imports. D. The United States would not be affected if it quit importing goods.
Which of the following is true regarding the reserve requirements?
A) The Fed changes them frequently because they are a power monetary policy tool. B) The Fed does not change them much at all because taxation is a more impactful monetary policy tool. C) The Fed changes them frequently because doing so simplifies banking operations. D) The Fed does not change them much at all because doing so would make banking operations