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Last month, individuals and businesses held: Currency $ 400 billion checking deposits $ 9000 billion Saving deposits $ 40000 billion Time deposits $ 4000 billion Building society deposits $ 2000 billion Last month, commercial banks held: Currency $ 3600 billion Reserves at the central bank $ 800 billion Loans to households and $ 4800 billion businesses Given the information in the tables above, answer the following questions: Calculate total deposits Calculate M1 measure of Money

Last month, individuals and businesses held: Currency $ 400 billion checking deposits $ 9000 billion Saving deposits $ 40000 billion Time deposits $ 4000 billion Building society deposits $ 2000 billion Last month, commercial banks held: Currency $ 3600 billion Reserves at the central bank $ 800 billion Loans to households and $ 4800 billion businesses Given the information in the tables above, answer the following questions: Calculate total deposits Calculate M1 measure of Money

Essentials of Economics (MindTap Course List)
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
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Last month, individuals and businesses held: Currency $ 400 billion checking deposits $ 9000 billion Saving deposits $ 40000 billion Time deposits $ 4000 billion Building society deposits $ 2000 billion Last month, commercial banks held: Currency $ 3600 billion Reserves at the central bank $ 800 billion Loans to households and $ 4800 billion businesses Given the information in the tables above, answer the following questions: a. Calculate total deposits b. Calculate M1 measure of Money
Transcribed Image Text:Last month, individuals and businesses held: Currency $ 400 billion checking deposits $ 9000 billion Saving deposits $ 40000 billion Time deposits $ 4000 billion Building society deposits $ 2000 billion Last month, commercial banks held: Currency $ 3600 billion Reserves at the central bank $ 800 billion Loans to households and $ 4800 billion businesses Given the information in the tables above, answer the following questions: a. Calculate total deposits b. Calculate M1 measure of Money
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