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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 Deposits7
Traveler's Checks1700
Savings Accounts8100
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 Japan displayed in the table below (all numbers in billions of domestic currency).

Coins and Currency in Circulation1300
Checkable Deposits3
Traveler's Checks2000
Savings Accounts7000
Money Market Mutual Funds400
Time Deposits600

Using the data above, calculate M2 for Japan.

billion

 

Hint