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Which of the following is money (included in M1) in the U.S. economy? Which are not? Simply state for each one 'money' or 'not money'.
a. $500 you deposited on an IRA account. Note: IRA stands for Individual Retirement Account.
b. $1,000 kept under the mattress of a French drug-dealer.
c. A U.S. dime in your wallet.
d. A Da Vinci painting.
e. Federal Reserve notes stored in the vaults of Wachovia Bank.
f. A Canadian dollar in your wallet.
g. Rolls of quarters picked up from Wachovia Bank by the local grocery store.
h. $500 that you transferred from your saving account to your checking account.
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