Select all the correct answers.

Which statements are false?

A. Money comes in different forms.
B. Money is indivisible.
C. M1 includes notes, coins, and funds in checkable deposits.
D. Money is a unit of account.
E. Credit cards are used primarily to withdraw money from a checking account.

Question

15-07-2024
Business

Answered

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Select all the correct answers.

Which statements are false?

A. Money comes in different forms.
B. Money is indivisible.
C. M1 includes notes, coins, and funds in checkable deposits.
D. Money is a unit of account.
E. Credit cards are used primarily to withdraw money from a checking account.

Sagot :

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GinnyAnsweridn GinnyAnsweridn · Answer 1 · 2024-07-15T10:45:18-04:00

Final answer:

M1 and M2 are different components of the money supply, and credit cards serve as a form of payment requiring later repayment.

Explanation:

M1 includes notes, coins, and funds in checkable deposits while M2 includes all of M1, plus savings deposits, time deposits like certificates of deposit, and money market funds. Credit cards are not used primarily to withdraw money from a checking account, but instead, they provide a line of credit that needs to be repaid later.

Learn more about Money Supply and Credit Cards here:

https://brainly.com/question/32295654

Sagot :

Final answer:

Explanation:

Learn more about Money Supply and Credit Cards here:

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