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Amount (in dollars) Celto Money Public Cash Holdings $20,000 Checking Accounts Savings Accounts $100,000 $40,000

Amount (in dollars) Celto Money Public Cash Holdings $20,000 Checking Accounts Savings Accounts $100,000 $40,000

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Amount (in dollars) Celto Money Public Cash Holdings $20,000 Checking Accounts Savings Accounts $100,000 $40,000
Transcribed Image Text:Amount (in dollars) Celto Money Public Cash Holdings $20,000 Checking Accounts Savings Accounts $100,000 $40,000
Jun I just completed an internship at our newly-formed central bank. Currently, the public holds cash of $20,000, and within banks we have $100,000 in checking accounts and $40,000 in savings accounts. Zack ou mention cash, checking, and savings - re there different categories of money? Jun Yes! There are different money aggregates - called M1 and M2. Let's start with M1. M1 includes cash, traveler's checks (we don't have any of those), and checking balances. How much does that mean our M1 money supply is? Enter a response then click Submit below $
Transcribed Image Text:Jun I just completed an internship at our newly-formed central bank. Currently, the public holds cash of $20,000, and within banks we have $100,000 in checking accounts and $40,000 in savings accounts. Zack ou mention cash, checking, and savings - re there different categories of money? Jun Yes! There are different money aggregates - called M1 and M2. Let's start with M1. M1 includes cash, traveler's checks (we don't have any of those), and checking balances. How much does that mean our M1 money supply is? Enter a response then click Submit below $
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