📝 Multiple Choice Question
Economics
Which of the following statements is/are correct? I.M0 is called broad money II.M1 is called narrow money III.M0 = Currency in Circulation + Bankers' Deposits with RBI + 'Other' Deposits with RBI
A
Only I
B
Only II and III
C
Only I and III
D
Only III
Explanation
M1 is officially termed 'narrow money' due to its immediate liquidity, while M0, representing reserve money, accurately consists of currency in circulation alongside RBI deposits.
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