The Central Bank of the US. published this information about money supply in 2019: Currency $3,300,000 Time Deposits $7,750,000 Small Time Deposits $2,400,000 Traveler’s Checks $1,800,000 Demand Deposits $1,300,000 Savings Deposits $3,000,000 Checkable Deposits $800,000 ➢ Using these information, Calculate Monetary Aggregates: • M1 = ? • M2 = ? • M3 = ?
The Central Bank of the US. published this information about money supply in 2019: Currency $3,300,000 Time Deposits $7,750,000 Small Time Deposits $2,400,000 Traveler’s Checks $1,800,000 Demand Deposits $1,300,000 Savings Deposits $3,000,000 Checkable Deposits $800,000 ➢ Using these information, Calculate Monetary Aggregates: • M1 = ? • M2 = ? • M3 = ?
Economics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter13: Money And The Banking System
Section: Chapter Questions
Problem 2CQ
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Question
The Central Bank of the US. published this information about money
supply in 2019:
Currency $3,300,000
Time Deposits $7,750,000
Small Time Deposits $2,400,000
Traveler’s Checks $1,800,000
Savings Deposits $3,000,000
Checkable Deposits $800,000
➢ Using these information, Calculate Monetary Aggregates:
• M1 = ?
• M2 = ?
• M3 = ?
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