The following table gives recent values for various financial assets. Not all assets will necessarily be used in your calculations for parts a and b.
|
Asset class
|
$ (billions)
|
|
Currency
|
$1,420
|
|
Savings deposits
|
$8,850
|
|
Small-denomination time deposits
|
$375
|
|
Large-denomination time deposits
|
$1,750
|
|
Total checkable deposits
|
$1,900
|
|
Retail money funds
|
$710
|
|
Institutional money funds
|
$2,250
|
|
Traveler's checks
|
$2
|
- Given our description in class, what is the value for M1 money?
- Given our description in class, what is the value for M2 money?