The Inclusion in M1 of Interest-Bearing Substitutes for Conventional Checkable

Multiple Choice

The inclusion in M1 of interest-bearing substitutes for conventional checkable deposits in the early 1980s

A) increased the demand for M1 at each level of nominal GDP, thereby decreasing velocity.
B) decreased the demand for M1 at each level of nominal GDP, thereby increasing velocity.
C) increased the demand for M1 at each level of nominal GDP, thereby increasing velocity.
D) decreased the demand for M1 at each level of nominal GDP, thereby decreasing velocity.