9. If an economy used gold as money, its money would be a. commodity money, but not fiat money. b. fiat money, but not commodity money. c. both fiat and commodity money. d. neither fiat nor commodity money. 10. Modern check originates from a. commercial banks' bonds. b. commercial banks' demand deposit. c. commercial banks' checkable deposits. d. goldsmith documents/receipts stating the value of the gold deposits. 11. Which of the following is included in M2 but not in MI? a. demand deposits b. corporate bonds c. large time deposits d. money market mutual funds 12. Which of the following isn't included in either MI or M2? a. U.S. Treasury bills b. small time deposits c. demand deposits d. money market mutual funds