Which of the following does M2 money supply NOT include? a. Balances on credit card account...
Which of the following does M2 money supply NOT include?
a. Balances on credit card account
b.savings account
c.currency (paper money and coins) held outside the banking
system.
d.Checkable deposits
e.Travelers Checks
Homework Answers
M1 money supply includes liquid money like currency in circulation (paper money and coins), checkable deposits and traveller’s checks. M2 money supply includes M1 plus saving deposits, money market funds and deposit certificates.
However, plastic money like credit cards are not considered money. Rather it is a short-term loan were the credit card company lends the money to you to make the purchase and sends you the bill at the end of the month. It does not change the quantity of money in the economy and so is not included in M1 or M2 money supply.
So, answer is M2money supply does not include balances on credit card account (Option A).
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Which of the following does M2 money supply NOT include?
a. Balances on credit card account...
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