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Anon25 [30]
3 years ago
5

If Jane Brown closes her account at the First National Bank and uses the money instead to open a money market mutual fund​ accou

nt, what happens to​ M1? Why?
Business
1 answer:
dybincka [34]3 years ago
6 0

Answer: M1 doesn't change.

Explanation:

M1 consists of:

M1 = Currency with the public + Checking account + other deposits with the RBI

Money market mutual fund account is a component of monetary aggregates (M1). Therefore, M1 does not change because the funds that are going towards money market mutual funds are firstly deposited in the mutual funds bank account.

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Mar. 17 Received $275 from Shawn McNeely and wrote off the remainder owed of $1,000 as uncollectible. July 29 Reinstated the acc
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Mar 17.

6150 Bad Debt Expense  $1.000 - Debit

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3 years ago
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3 0
3 years ago
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HOPE THIS HELPS YOU

7 0
3 years ago
Read 2 more answers
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