Which of the following assets is most liquid?

a. A home

b. Funds in a checking account

c. A car

d. A municipal bond.

The currency of the United States is:

a.not backed by any precious metal

b.back by the government's gold and silver reserves

c.backed by the government's silver reserves

d.backed by a gold cover of 50 percent

e.backed dollar for dollar by gold.

The largest component of the M1 definition of the money supply is:

a.traveler's checks

b.savings accounts

c.checkable deposits

BONUS

d.money market accounts.