a. Which two of the following financial institutions offer checkable deposits included within theM1 money supply?

• Securities firms
• Insurance companies
• Thrift institutions
• Commercial banks
• Mutual fund companies

b. Which of the following items is (are)notincluded in eitherM1 orM2?

• Small-denominated (less than $100,000) time deposits
• Currency held by banks
• Money market mutual fund balances held by individuals
• Savings deposits
• Money market mutual fund balances held by businesses
• Checkable deposits