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11. Use the following data to answer question #11. Calculate M-1 money supply for this economy. Show all work. Money Market Mutual Funds (MMMF) $120

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11. Use the following data to answer question #11. Calculate M-1 money supply for this economy. Show all work. Money Market Mutual Funds (MMMF) $120 Currency held in the banks 40 Currency in the hands of the public 70 Savings deposits 50 Time deposits (CDs) 90 Value of iron ore held by Business 30 Bonds held by the public 20 Checkable deposits . If the Federal Reserve wishes to increase money supply what Open Market Operation must they perform

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