Which statement is TRUE?
A) Coins constitute 90% of currency.
B) Paper money constitutes 90% of M1.
C) Paper money constitutes 90% of currency.
D) Coins constitute 90% of M1.

Question

Quizplus · Accepted Answer

According to the given options, the only statement that says paper money constitutes 90% of currency is option C. The other options either talk about M1 (which is a narrower definition of currency) or coins (which are only a fraction of currency).

Which Statement Is TRUE