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M3 and M4 are known as ______ money. -

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Question

M3 and M4 are known as ______ money.

Options

  • Broad

  • Narrow

  • Both Broad and Narrow

  • None of these

MCQ
Fill in the Blanks

Solution

M3 and M4 are known as Broad money.

Explanation:

Broad money is defined as M3 and M4. M3 = M1 + all commercial and cooperative banks' time deposits (excluding interbank time deposits). M4 = M3 + Total Post Office Savings Organization Deposits (excluding National Saving Certificate). Because they contain less liquid assets, these money supply metrics are referred to as broad money.

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