Explain whether you agree with the statement

Reference no: EM131305559

Explain whether you agree with the following statement: The Federal Reserve believes that two-thirds of the currency included in M1 is actually outside the United States.

If this is correct, then M1 should be redefined to exclude that part of currency that is outside the United States.

Otherwise, M1 provides a misleading measure of the amount of money available to be spent on goods and services in the United States.

Reference no: EM131305559

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