Option 1: (A) - (I), (B) - (IV), (C) - (III), (D) - (II) -> The monetary aggregates are hierarchical measures of money supply. M1 is the most liquid form consisting of currency and demand deposits (I). M2 expands M1 by adding Post Office savings deposits (IV). M3 further expands M1 by including time deposits with commercial banks (III). M4 is the broadest measure, adding all Post Office deposits to M3 (II). This hierarchy reflects increasing breadth of liquidity in the economy. -> correct