In May 2017, currency held by individuals and businesses was $1,469 billion; traveler's checks were $2 billion; checkable deposits owned by individuals and businesses were $2,034 billion; savings deposits were $8,958 billion; time depos- its were $355 billion; and money market funds and other deposits were $1,746 billion. Calculate M1 and M2 in May 2017.

In May 2017, currency held by individuals and businesses was $1,469 billion; traveler's checks were $2 billion; checkable deposits owned by individuals and businesses were $2,034 billion; savings deposits were $8,958 billion; time depos- its were $355 billion; and money market funds and other deposits were $1,746 billion. Calculate M1 and M2 in May 2017.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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