4. Indicate if each of the following is included in M1, in M2 or in both M1 and M2: (a) Traveler's checks; (b) savings deposits; (c) certificates of deposits; (d) checking account deposits. 5. What is hyperinflation? Hyperinflation is frequently caused when a government monetizes its debt." Explain. Use the quantity theory of money to show how this process works. 4. Indicate if each of the following is included in M1, in M2 or in both M1 and M2: (a) Traveler's checks; (b) savings deposits; (c) certificates of deposits; (d) checking account deposits. 5. What is hyperinflation? Hyperinflation is frequently caused when a government monetizes its debt." Explain. Use the quantity theory of money to show how this process works