Following are components of the M1 money supply at the end of last year. What will be
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Following are components of the M1 money supply at the end of last year. What will be the size of the M1 money supply at the end of next year if currency grows by 10 percent, demand deposits grow by 5 percent, other checkable deposits grow by 8 percent, and the amount of traveler’s checks stays the same?
Currency.....................................$700 billion
Demand deposits......................$300 billion
Other checkable deposits.........$300 billion
Traveler’s checks..........................$10 billion
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Next years M1 would be 700110 ...View the full answer
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Related Book For
Introduction to Finance Markets, Investments and Financial Management
ISBN: 978-1119398288
16th edition
Authors: Ronald W. Melicher, Edgar A. Norton
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