Homework: 9-2 MyEconLab: Module Nine Homework Score: 0 of 4 pts X) Text Problem

Question

Homework: 9-2 MyEconLab: Module Nine Homework Score: 0 of 4 pts X) Text Problem 15-4 Consider the following data. 14 of 25 (24 complete) HW Sc Item Value ($ billions Currency Savings and money market deposit accounts Small-denomination time deposits Traveler's checks outside banks and thrifts Noninstitution money market mutual funds Institution-only money market mutual funds Transaction deposits 3,148 1,629 238 983 Calculate M1. $ 1.724 billion. Calculate M2. $ 6501 billion Enter your answer in the answer box and then click Check Answer. All parts showing Clear All

Explanation / Answer

M1 = Currency held outside banks + Transaction deposits + Traveler's checks

M1 = $ 0 + $ 983 + 9

M1 = $ 992

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M2 = M1 + Savings deposits + small denomination time deposits + money market mutual funds

M2 = $ 992 + $ 3148 + $ 1629 + $ 775

M2 = $ 6544 billion

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