According to Chapter 14, M1 ($20.3 trillion) consists of 10 percent currency ($2.1 trillion), 23 percent in checking accounts ($4.7 trillion), and 66 percent in other liquid deposits ($13.5 trillion). (Hint: This info can be calculated by looking at the visual display on page 290). Multiple Choice O This is true if you also include the $1 trillion in savings + small denominated time deposits. This statement is true if you don't count the $1 trillion of savings + small time deposits. O This statement is false because any liquid asset is part of M1. O This statement is false because the Federal Reserve Bank eliminated the M1 money measurement during the 2008 Financial Crisis