1. List and describe the four functions of money

2. Calculate M1 and M2 using details from the table given below.

Value (in millions)

Currency

$70

Checkable deposits

50

Traveler's checks

30

Savings deposits

125

Small-denomination time deposits

75

Noninstitutional money market mutual fundshares

50

3. List and explain the main functions of a Central Bank.

4. I describe how banks can create money.