Question

M2 Money Supply. The Federal Reserve System publishes weekly figures of M2 money supply in the document Money Stock Measures. M2 includes such things as cash in circulation, deposits in checking accounts, nonbank traveler’s checks, accounts such as savings deposits, and money-market mutual funds. The following bar chart provides data on the M2 money supply over 3 months during one year.

a. What is wrong with the bar chart?

b. Construct a version of the bar chart with a nontruncated and unmodified vertical axis.

c. Construct a version of the bar chart in which the vertical axis is modified in an acceptable manner.

Money Supply
Weekly average of M2 in trillions.
Week ending October 27
$7.8276 trillion
$8.0
$7.9
$7.8
$7.7
Пыl
$7.6
4 11 18 25 18 15 22 29 6 13 20 27
Aug.
Sep.
Oct.
Source: Federal Reserve System
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Transcribed Image Text

Money Supply Weekly average of M2 in trillions. Week ending October 27 $7.8276 trillion $8.0 $7.9 $7.8 $7.7 Пыl $7.6 4 11 18 25 18 15 22 29 6 13 20 27 Aug. Sep. Oct. Source: Federal Reserve System