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Assume that the following asset values (in millions of dollars) exist in Ironmania: CategoryValue Bank of Canada notes in circulation$700Corporate bonds300Iron ore deposits50Currency in chartered

Assume that the following asset values (in millions of dollars) exist in Ironmania:

CategoryValueBank of Canada notes in circulation$700Corporate bonds300Iron ore deposits50Currency in chartered banks100Personal savings deposits and nonpersonal notice deposits at chartered banks540Demand deposits1,500Coins in circulation40

a.What isM1+ in Ironmania?

$million

b.What isM2 in Ironmania?

$million

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