Last month, individuals and businesses held: Currency $ 400 billion checking deposits $ 9000 billion Saving deposits $ 40000 billion Time deposits $ 4000 billion Building society deposits $ 2000 billion Last month, commercial banks held: Currency $ 3600 billion Reserves at the central bank $ 800 billion Loans to households and $ 4800 billion businesses Given the information in the tables above, answer the following questions: Calculate total deposits Calculate M1 measure of Money

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
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Last month, individuals and businesses held:
Currency
$ 400 billion
checking deposits
$ 9000 billion
Saving deposits
$ 40000 billion
Time deposits
$ 4000 billion
Building society deposits
$ 2000 billion
Last month, commercial banks held:
Currency
$ 3600 billion
Reserves at the central bank
$ 800 billion
Loans to households and
$ 4800 billion
businesses
Given the information in the tables above, answer the following questions:
a. Calculate total deposits
b. Calculate M1 measure of Money
Transcribed Image Text:Last month, individuals and businesses held: Currency $ 400 billion checking deposits $ 9000 billion Saving deposits $ 40000 billion Time deposits $ 4000 billion Building society deposits $ 2000 billion Last month, commercial banks held: Currency $ 3600 billion Reserves at the central bank $ 800 billion Loans to households and $ 4800 billion businesses Given the information in the tables above, answer the following questions: a. Calculate total deposits b. Calculate M1 measure of Money
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