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Suppose that M2 has recently gone down even though small-denomination time deposits have gone up. Which of the following is consistent with this? a. Demand

Suppose that M2 has recently gone down even though small-denomination time deposits have gone up. Which of the following is consistent with this? a. Demand deposits have gone up by more than small-denomination time deposits have increased. b. Other liquid deposits have increased. c. Currency (held outside banks) has fallen by more than small-denomination time deposits have increased. d. M1 has fallen by less than small-denomination time deposits have increased

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