Question

1. Checks are not money because they

   		are just instruments to transfer money between banks.
   		are not always accepted when trying to purchase goods or services.
   		can bounce when there are not enough funds to cash them.
   		are not issued by the government.

2 points   

QUESTION 17

1. An official measure of money in the United States is M1, which includes the sum of

   		checkable deposits plus small time deposits.
   		currency plus traveler's checks plus time deposits.
   		currency plus traveler's checks plus checkable deposits plus small time deposits plus money market funds and other deposits.
   		currency plus checkable deposits plus traveler's checks.

2 points   

QUESTION 18

1. If Rob deposits $300 in currency into his savings account at Bank of America,

   		M1 decreases.
   		M2 decreases.
   		M1 does not change.
   		M2 increases.

Answer 1

are not always accepted when trying to purchase goods or services.

Checks are instruments for payment and not necessarily the ultimate form of debt payment, as a individual can choose not to be paid by in checks. Howere if debt is paid by money, the individual can never deny.

currency plus traveler's checks plus checkable deposits plus small time deposits plus money market funds and other deposits.

M1 consists of the following as mentioned

M1 does not change.

M1 does not change , as the money supply in the economy remains constant.

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