9. The following table gives recent values for various nancial assets. Not all assets will necessarily be used in your calculations for parts a and b. Asset class Currency $2,] 15 Institutional money market funds $3,365 Small-denomination time deposits $295 Other liquid assets $14,470 Large-denomination time deposits $4,450 Retail money market funds $1,000 Demand deposits $4,765 a. Given our description in class, what is the value for M1 money? b. Given our description in class, what is the value of M2 money? 12. Below is a table that gives the total value of assets held by banks in the US, and the value of the US economy as given by Gross Domestic Product (GDP). Both are listed in billions of dollars. For each year, divide bank assets by total GDP and enter the value into the table. If we interpret this as the relative size of banking activity in the US compared to the overall economy, What has been the trend in banking activity over the past 50 years? Year Total Bank Assets