Real-Time Data Analysis Exercise* *Real-time data provided by Federal Reserve Economic Data (FRED), Federal Reserve Bank of Saint Louis. The table shows the quantities of M1, M2, and their components in August 2021 and August 2022. In the year to August 2022, M1 grew by percent and M2 grew by percent. Answer to the nearest 1 decimal place. Two Measures of Money: August 2021 andAugust 2022 M2 Retail money market funds Small time deposits M1 Demand deposits Other liquid deposits Currency Amount (billions of dollars) August 2021 August 2022 20,853.4 21.711.4 977.9 128.9 19,746.5 4,489.6 13,172.1 2,084.9 1,096.3 162.2 20,452.9 5,231.3 13,043.0 2,178.5

Real-Time Data Analysis Exercise* *Real-time data provided by Federal Reserve Economic Data (FRED), Federal Reserve Bank of Saint Louis. The table shows the quantities of M1, M2, and their components in August 2021 and August 2022. In the year to August 2022, M1 grew by percent and M2 grew by percent. Answer to the nearest 1 decimal place. Two Measures of Money: August 2021 andAugust 2022 M2 Retail money market funds Small time deposits M1 Demand deposits Other liquid deposits Currency Amount (billions of dollars) August 2021 August 2022 20,853.4 21.711.4 977.9 128.9 19,746.5 4,489.6 13,172.1 2,084.9 1,096.3 162.2 20,452.9 5,231.3 13,043.0 2,178.5

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter21: The Monetary System

Section: Chapter Questions

Problem 12PA

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