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Consider the following data. Calculate M1. $ billion. Calculate M2. $ billion. Item Value ($ billions) Currency 625 Savings and money market deposit accounts 2.806

Consider the following data.

Calculate M1. $ billion.

Calculate M2. $ billion.

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Item Value ($ billions) Currency 625 Savings and money market deposit accounts 2.806 Small-denomination time deposits 1.542 Traveler's checks outside banks and thrifts 10 Noninstitution money market mutual funds 792 Institution-only money market mutual funds 190 Transaction deposits 912

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