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Question 1

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 Circulation1200
Checkable Deposits4
Traveler's Checks1300
Savings Accounts7700
Money Market Mutual Funds400
Time Deposits500

Using the data above, calculate M1 for the US.

billion

 

Hint


Question 2

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 Deposits3
Traveler's Checks1200
Savings Accounts8200
Money Market Mutual Funds600
Time Deposits800

Using the data above, calculate M2 for Canada.

billion

 

Hint