Suppose your bank raises its minimum-balance requirement for free checking on checking accounts by $300. You take $500 out of your passbook savings account and put $300 in your checking account, and $200 in your wallet. What is the overall effect on M1 and M2? Select one: a. M1 rises by $300, M2 falls by $500. O b. M1 is unchanged, M2 is unchanged. O c. M1 rises by $500, M2 is unchanged. O d. M1 rises by $500, M2 falls by $500.

Suppose your bank raises its minimum-balance requirement for free checking on checking accounts by $300. You take $500 out of your passbook savings account and put $300 in your checking account, and $200 in your wallet. What is the overall effect on M1 and M2? Select one: a. M1 rises by $300, M2 falls by $500. O b. M1 is unchanged, M2 is unchanged. O c. M1 rises by $500, M2 is unchanged. O d. M1 rises by $500, M2 falls by $500.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Suppose your bank raises its minimum-balance requirement for free checking on checking accounts
by $300. You take $500 out of your passbook savings account and put $300 in your checking
account, and $200 in your wallet. What is the overall effect on M1 and M2?
Select one:
a.
b.
M1 is unchanged, M2 is unchanged.
M1 rises by $500, M2 is unchanged.
d. M1 rises by $500, M2 falls by $500.
M1 rises by $300, M2 falls by $500.
C.

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