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Consider the following statistics for the banking sector in China displayed in the table below (all numbers in billions of domestic currency).

Coins and Currency in Circulation1200
Checkable Deposits5
Traveler's Checks1800
Savings Accounts7500
Money Market Mutual Funds400
Time Deposits500

Using the data above, calculate M1 for China.

billion

 

Hint


Consider the following statistics for banking sector in Canada displayed in the table below (all numbers in billions of domestic currency).

Coins and Currency in Circulation1400
Checkable Deposits8
Traveler's Checks1300
Savings Accounts7700
Money Market Mutual Funds400
Time Deposits500

Using the data above, calculate M2 for Canada.

billion

 

Hint


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