M1 includes currency and demand deposits but excludes travelers' checks.
Correct Answer:
Verified
Q38: Fiat money is paper money fully backed
Q39: No other asset is as liquid as
Q40: No full-bodied or representative full-bodied money is
Q41: All restrictions on U.S. citizens holding gold
Q42: M1 money supply consists of currency, travelers'
Q44: Money market securities are debt securities with
Q45: Fiat money generally becomes worthless if the
Q46: Credit money is money backed by the
Q47: A monetary standard based on two metals,
Q48: Beginning in 1961, U.S. citizens were prohibited
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