Answer the question on the basis of the following list of assets:

1. Large-denominated ($100,000 and over) time deposits
2. Noncheckable savings deposits
3. Currency (coins and paper money) in circulation
4. Small-denominated (under $100,000) time deposits
5. Stock certificates
6. Checkable deposits
7. Money market deposit accounts
8. Money market mutual fund balances held by individuals
9. Money market mutual fund balances held by businesses
10. Currency held in bank vaults

Refer to the given list. The M1 definition of money comprises item(s):

a.) 6 only.
b.) 3, 4, and 6.
c.) 3 and 6.
d.) 3, 6, and 10.

ANSWER

c.) 3 and 6.