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NES Business (309) Practice Tests & Test Prep by Exam Edge

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NES Business Sample Test

1 of 5

There are several measures of the composition of the money supply. M-2 refers to which of the following measures?

Correct Answer:

the sum of coins, currency, demand deposits and savings accounts and small-denomination time deposits

m-2 is a classification used to describe a component of the money supply that includes various types of money. it is broader than m-1, which is another measure of the money supply.

specifically, m-1 includes the most liquid forms of money, such as coins, currency (paper money), and demand deposits (checking accounts). these are forms of money that can be used directly and immediately for transactions.

m-2, on the other hand, includes everything in m-1 but also adds several other types of financial assets that are slightly less liquid. these include savings accounts, which are not as readily accessible for everyday transactions as checking accounts but can still be easily converted into cash or checking deposits. m-2 also includes small-denomination time deposits, commonly known as certificates of deposit (cds), which are fixed deposits at a bank or financial institution with a certain term and interest rate. these cds can be under $100,000 and are included in m-2 because they can be relatively easily converted into cash or used directly for payments once they mature, although they are less liquid than the components of m-1.

by tracking m-2, economists and policymakers can get a sense of the money available in the economy that can relatively quickly be turned into cash for spending and investment, beyond just the most liquid forms. this broader view helps in understanding economic conditions and guiding monetary policy decisions to stabilize or stimulate economic growth.