When People Make Deposits of Currency into a Bank, the Quantity

Multiple Choice

When people make deposits of currency into a bank, the quantity of M1

A) does not immediately change.
B) changes only if the deposit is an open market operation.
C) immediately changes but whether it increases or decreases depends on whether the bank had excess reserves or did not have excess reserves.
D) immediately decreases by the amount of the deposit.
E) immediately increases by the amount of the deposit.