Answer:
a. wealth held by people in their checking accounts.
Explanation:
M1 includes the supply of money via physical coin and currency , checkable deposits , travelers' checks .
M1 is the most liquid portion of the money supply , as it have maximum monetary in the form of cash .
M2 is the near money and , M3 is the near , near money , and M2 and M3 can not be easily converted to currency as compare to M1 .
hence , from the question , the correct statement fro M1 is ( a. ) .
