Given the following information for November 2010, calculate the amounts of M1 a

Question

Given the following information for November 2010, calculate the amounts of M1 and M2 in November 2010. The amounts are in billions of dollars.

Currency                                                                                              $915.0

Demand deposits                                                                                 507.0

Money market mutual funds (retail only)                                           711.1

Other checkable deposits                                                                    405.2

Savings deposits, including money market deposit accounts            5,317.9

Small-denomination time deposits                                                    943.3

Traveler

Explanation / Answer

M1 Currency $915.0 915 Demand deposits 507.0 507 Travelers checks 4.7 4.7 TOTAL 1426.7 M2 M1 1426.7 Money market mutual funds (retail only) 711.1 711.1 Savings deposits, including money market deposit accounts 5,317.9 5317.9 Small-denomination time deposits 943.3 943.3 Other checkable deposits 405.2 405.2 TOTAL 8804.2

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