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What is the effect on the money supply when you transfer $150,000 from your checking account to your savings account?

by ScholarMatic Tutors | Nov 29, 2023 | economics

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What is the effect on the money supply when you transfer $150,000 from your checking account to your savings account?

Decrease M1; increase M2

Decrease M2; increase M3

No effect on M1; increase M2

No effect on M2; increase M3

Decrease M2; no effect on M3

I think the answer is that there will be no effect on m2 and a decrease in m1 because m2 includes checking account and savings account, which means no change. m1 only includes checking account in this case.

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