The term M \(^3\) comprises M \(^1\) together with deposits on deposit account held by_______

The term M \(^3\) comprises M \(^1\) together with deposits on deposit account held by_______

Economics

JAMB 2019

The term M \(^3\) comprises M \(^1\) together with deposits on deposit account held by_______

A. banks only
B. discount houses only
C. banks and discount houses
D. banks, discount houses and stock, exchanges

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Correct Answer: Option C

Explanation

The money supply consist of M \(^1\) and M \(^3\). M \(^3\) is a measure in money supply. M \(^3\); This is M \(^1\) plus deposits on deposit account held by barks and discount houses.

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The term M \(^3\) comprises M \(^1\) together with deposits on deposit account held by_______

Correct Answer: Option C

Explanation

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