Which of the following is part of M1 longterm certificates o

Which of the following is part of M1? long-term certificates of deposit corporate bonds currency in a person\'s purse money market fund account balances

Solution

Ans:

currency in a person\'s purse

M1 includes physical currency and coin, demand deposits, travelers checks, other checkable deposits and Negotiable Order of Withdraw accounts.Hence currency in a person\'s purse is part of M1.