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

Coins and Currency in Circulation1100
Checkable Deposits5
Traveler's Checks1500
Savings Accounts8100
Money Market Mutual Funds600
Time Deposits600

Using the data above, calculate M1 for Canada.

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 Circulation1200
Checkable Deposits1
Traveler's Checks1900
Savings Accounts9000
Money Market Mutual Funds500
Time Deposits700

Using the data above, calculate M2 for China.

billion

 

Hint