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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 Circulation1400
Checkable Deposits1
Traveler's Checks2000
Savings Accounts8900
Money Market Mutual Funds600
Time Deposits500

Using the data above, calculate M1 for the US.

billion

 

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

Coins and Currency in Circulation1100
Checkable Deposits1
Traveler's Checks1800
Savings Accounts7900
Money Market Mutual Funds500
Time Deposits600

Using the data above, calculate M2 for Norway.

billion