M4 is a __________ measure of money and includes deposits at both __________ and _________?
Correct answer: D. Wide, banks building societies
- A. narrow, banks, building societies
- B. wide, banks insurance companies
- C. Narrow, banks insurance companies
- D. Wide, banks building societies
Explanation
M4 is a broad or wide measure of money because it includes liquid deposits held with banks and building societies. Insurance-company deposits are not the standard component in this definition.
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The economy is studied as a whole through national income, gross domestic product, inflation, unemployment, economic growth and business cycles. Coverage includes aggregate demand and supply, consumption and investment, money and banking, fiscal and monetary policy, exchange rates and balance of payments, which distinguishes macroeconomics from the study of individual markets.
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