Answered: In July 2013, M1 was $2,539 billion; M2…

Macroeconomics

13th Edition

ISBN:9781337617390

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter12: Money, Banking And The Financial System

Section: Chapter Questions

Problem 5WNG

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In July 2013, M1 was $2,539 billion; M2 was $10,710 billion; check-able deposits owned by individuals and businesses were $1,414 billion; small time deposits were $556 billion; and money market funds and other deposits were $665 billion.

Calculate currency held by individuals and businesses and traveler's check in July 2013, and calculate savings deposits.

In July 2013, currency held by individuals and businesses and traveler's checks were $ _____ billion.

Savings deposits in July 2013 were $_____ billion.

Definition Definition Financial market that deals in securities or assets that are short-term in nature. The money market is responsible for keeping up the liquidity of the businesses and the organizations. These securities are usually held for a period of 12 months or less and are issued by institutions that require cash or funds for their short-term cash flow requirements. The money market is regulated by the federal government.

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