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

Coins and Currency in Circulation1100
Checkable Deposits8
Traveler's Checks1200
Savings Accounts8100
Money Market Mutual Funds600
Time Deposits500

Using the data above, calculate M1 for Norway.

billion

 

Hint


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

Coins and Currency in Circulation1000
Checkable Deposits3
Traveler's Checks1200
Savings Accounts8000
Money Market Mutual Funds400
Time Deposits800

Using the data above, calculate M2 for the US.

billion

 

Hint