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1. Use the information below to find values for M1 and M2. Currency (coins and paper money) in circulation Currency in the vaults of
1. Use the information below to find values for M1 and M2. Currency (coins and paper money) in circulation Currency in the vaults of commercial banks Small time deposits Checkable deposits Savings deposits (including MMDAs) Money Market Mutual Fund balances M1 M2, $800 $1,200 $400 $1,300 $3,000 $900 2. What are the three functions of money? 3. What gives money its value? 4. Who is the current chair of the Board of Governors of the Federal Reserve?
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1 M1 2100 800 1300 M2 6500 400 1300 3000 900 M1 is the sum of currency in circulation coins and paper money and the amount of checkable deposits held ...
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Foundations of Macroeconomics
Authors: Robin Bade, Michael Parkin
6th edition
132831007, 978-0132831000
