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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

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BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383
Textbook Problem

Currency held outside banks is $100 billion, money market mutual funds (retail) are $120 billion, small-denomination time deposits are $50 billion, and savings deposits (including money market deposit accounts) are $200 billion. How much does M2 equal?

To determine

Calculate the value of M2.

Explanation

The value of M2 can be calculated as follows:

M2=M1+Savings deposits (including money market deposit accounts)+small denomination time deposits+retail money market mutual funds        (1)

Here, the currency held outside a bank is treated as M1

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