Economics · Monetary Aggregates
Consider the following statements regarding RBI's classification of money supply aggregates: Statement I: M1 is known as narrow money and consists of currency with the public, demand deposits with the banking system, and other deposits with the RBI, and it is the most liquid of all aggregates. Statement II: M3 is known as broad money and includes all components of M1 plus the time deposits with the banking system. Statement III: M2 is calculated by adding the total deposits of post office savings organizations to M3. Which of the above statements are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1I, II and III
- 2Only II and III
- 3Only I and II✓
- 4Only I
Correct answer
Only I and II
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