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

Coins and Currency in Circulation1400
Checkable Deposits7
Traveler's Checks1800
Savings Accounts8600
Money Market Mutual Funds400
Time Deposits700

Using the data above, calculate M1 for the US.

billion

 

Hint


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

Coins and Currency in Circulation1500
Checkable Deposits4
Traveler's Checks1800
Savings Accounts8300
Money Market Mutual Funds500
Time Deposits500

Using the data above, calculate M2 for China.

billion

 

Hint