In February 2001, currency held by individuals and businesses was $537.1 billion; traveler's checks were $8.0 billion;

Question:

In February 2001, currency held by individuals and businesses was $537.1 billion; traveler's checks were $8.0 billion; checkable deposits owned by individuals and businesses were $544.9 billion; savings deposits were $1,927.3 billion; small time deposits were $1,052 billion; and money market funds were $958.5 billion.
a. What was M1 in February 2001?
b. What was M2 in February 2001?
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Foundations of Macroeconomics

ISBN: 978-0132831000

6th edition

Authors: Robin Bade, Michael Parkin

Question Posted: