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Sagot :
Currency (paper money plus coins) constitutes about 57 percent of the U.S. M1 money supply. Thus, option (a) is correct.
What is currency?
The term “currency” refers to the flow of money. The currency is used in transactions for goods and services. The currency looks like a piece of paper with a mettle and steel texture coin. The government has the legal right to issue a press release. The purchasing and selling with the help of currency.
The two sorts of currency refuge are cash and commodities. The money supply, which includes coins and currencies in circulation, is referred to as M1. The currency is an essential component of the economy. Other countries use the money as well. M1 is made up of extramural Federal Reserve Banks, depository institutions, and the US Treasury.
M1 is calculated as coins and cash in circulation + demand deposits + traveler's checks. 57 percent of the US M1 money supply
Therefore, option (a) is correct.
Learn more about on currency, here:
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