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Principles of Money, Banking & Financial Markets 12th Edition by Lawrence Ritter,William Silber,Gregory Udell
Edition 12ISBN: 978-0321339195Principles of Money, Banking & Financial Markets 12th Edition by Lawrence Ritter,William Silber,Gregory Udell
Edition 12ISBN: 978-0321339195 Exercise 1
Which definition of money supply, Ml or M2, is most appropriate if the most important function of money is its role as medium of exchange Why
Explanation
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Verified
The most appropriate definition of money supply is M1. Because, M1 get used in unrestricted ways as a means for payment and refers to the most liquid of all assets, currency, plus all types of checking accounts at financial institutions. In addition, M1 is the most traditional definition of money.
Principles of Money, Banking & Financial Markets 12th Edition by Lawrence Ritter,William Silber,Gregory Udell
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