Considering the following data (expressed in billions of U.S. dollars), calculate M1 and M2. Currency........................................................850 Savings deposits.............................................3,500
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Currency........................................................850
Savings deposits.............................................3,500
Small-denomination time deposits........................2,000
Traveler's checks outside banks and thrifts.................10
Total money market mutual funds........................1,300
Institution-only money market mutual funds.............200
Transactions deposits........................................940
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