Q.1. Suppose the country X has the following monetary asset information as of year 2010:

Cash in hands of the public = $300b (where 'b' represents billion)

Demand Deposits (DD) = $400b

Other Checkable Deposits = $150b

Traveler's checks = $50b

Savings Type accounts = $2000b

Money Market Mutual Funds (MMMF) = $1000b

Small Time Deposits = $500b

Large Time Deposits = $450b

1. Calculate M1 for Country X (4 points)
2. Calculate M2 for Country X (4 points)

(c) Which item is not included in the calculations of M1 and M2? (4 points)