Given the following information for November? 2010, calculate the amounts of M1 and M2 in November 2010. The amounts are in billions of dollars
Currency $915.0
Demand deposits 507.0
Money market mutual funds (retail only) 711.1
Other checkable deposits 405.2
Savings deposits, including money market deposit accounts 5,317.9
Small-denomination time deposits 943.3
Traveler?s checks 4.7
Answer:
M1 = 915+507+405.2+4.7 = $1831.9
M2 =M1 + 711.1+5317.9+943.3 = $8804.2
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