In December 2000, currency was $340 billion, travelers checks were $4 billion; checkable deposits owned by individuals and businesses were $450 billion, saving deposits were $1,900 billion, time deposits were $1,000 billion; and money market funds were $900 billion. What was the M1 in December 2000?
In December 2000, currency was $340 billion, travelers checks were $4 billion; checkable deposits owned by individuals and businesses were $450 billion, saving deposits were $1,900 billion, time deposits were $1,000 billion; and money market funds were $900 billion. What was the M1 in December 2000?
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter12: Money, Banking And The Financial System
Section: Chapter Questions
Problem 5WNG
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In December 2000, currency was $340 billion, travelers checks were $4 billion; checkable deposits owned by individuals and businesses were $450 billion, saving deposits were $1,900 billion, time deposits were $1,000 billion; and money market funds were $900 billion. What was the M1 in December 2000?
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