Fall 2017 ECO-004 Face to Face Time Remaining: 00 Quiz: ASSESS Chapter 15 Quiz 4

Question

Fall 2017 ECO-004 Face to Face Time Remaining: 00 Quiz: ASSESS Chapter 15 Quiz 40125 (3 complete) This Qu his Question: 4 pts Considering the following data (expressed in bilions of U.S. dollars), calculate M1 and M2. Value (S billions Item Transactions deposits Savings deposits Small-denomination time deposits Money market deposit accounts Noninstitution money market mutual funds Traveler's checks outside banks and thrifts Currency Institution-only money market mutual funds 1,040 3,285 1,465 1,965 1,885 25 1,035 1,265 MI is $ billion. Enteryour response as a whole number.) M2 is $ billion. (Enter your response as a whole number) nter your answer in each of the answer boxes

Explanation / Answer

M1= Transaction deposits + Traveler checks outside banks and thrift + currency

=1,040 + 25 +1035

M1=$2100

M2=M1+ saving deposit +small denomination time deposit +money market deposit account + non-institutional money market mutual fund + institution money market mutual fund  

=2100 +3285 +1465 +1965 +1885 +1265

M2=$11,965

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