Suppose on your 21st birthday, your eccentric grandmother invites you over to her house, takes you into her library, removes a black velvet painting of elvis presley from the wall, and opens a hidden safe where she removes 50 crisp $100 bills and hands them to you as a present, claiming you are her favorite grandchild. after your grandmother profusely (and her re-hang elvis) you proceed to your bank and deposit half of your gift in your checking account and half in your savings account.

Because of these transactions, M1 and M2 will be unaffected because The Internal Revenue Service's gift tax rules do not require the receiver to pay taxes.

M1 comprises of checking deposits and cash. While M2 includes all elements of M1 and “near money” and is the calculation of the money supply.

the assumption the narrator makes in this excerpt is that the messages he heards were going to hurt the narrator's mom; the narrator just springs in to action. the narrator doesn't specify in this excerpt why he believes that the messages present a problem that requires protection.

answer; standing committee;