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Philip takes $500 from his money market fund and deposits the $500 in his small time deposit. What is the immediate change in M1 and

Philip takes $500 from his money market fund and deposits the $500 in his small time deposit. What is the immediate change in M1 and M2? A. M1 increases and M2 decreases by $500. O B. M1 decreases and M2 increases by $500. O C. M1 decreases by $500 and M2 does not change. D. M1 does not change and M2 does not change. O E. Both M1 and M2 decrease by $500

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