History

4 March, 12:39

Credit cards were introduced in 1959. In 2014, the U. S. credit card balance was $880 billion. Which of the following is TRUE?

A. No part of the $880 billion balance is counted in M1 and M2.

B. The $880 billion balance is part of both M1 and M2.

C. Only that portion of the $800 billion actually charged in 2014 is counted in M1 and M2.

D. The $880 billion balance is part of M2 but not part of M1

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