Question
The table below presents data for different components of the U.S. money supply in January 2007. Use the information in the table to answer the
The table below presents data for different components of the U.S. money supply in January 2007. Use the information in the table to answer the questions that follow (all values are in billions of dollars):
| Components | Amount |
| Currency | $751 |
| Checkable deposits | $616 |
| Money market account | $787 |
| Savings | $3,706 |
| Small-denomination time deposits | $1,213 |
| Traveler's checks | $7 |
| 3-Month U.S. Treasury bills | $2,300 |
In January2007, the total value of M1 was $ billion. In January2007, the total value of M2 was $ billion.
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Cornerstones of Financial and Managerial Accounting
Authors: Rich, Jeff Jones, Dan Heitger, Maryanne Mowen, Don Hansen
2nd edition
978-1111879044
