QuestionThe table below shows the components of M1 and M2 in the U.S. Use the table to calculate Total M1. Round to the nearestthird decimal place.Provide your answer below:trillionComponents of M1 and M2 in the U.S.CurrencyTraveler's checksDemand deposits and other checking accountsSavings accountsTime depositsIndividual money market mutual fund balances$ trillions$1.2$0.004$2.204$9.805$0.527$1.176

To calculate the total M1, we sum up the components of M1 from the data provided. According to the…

Question The table below shows the components of M1 and M2 in the U.S. Use the table to calculate Total M1. Round to the nearest third decimal place. Components of M1 and M2 in the U.S. Currency Traveler's checks Demand deposits and other checking accounts Savings accounts Time deposits Individual money market mutual fund balances $ trillions $1.2 $0.004 $2.204 $9.805 $0.527 $1.176

Question The table below shows the components of M1 and M2 in the U.S. Use the table to calculate Total M1. Round to the nearest third decimal place. Components of M1 and M2 in the U.S. Currency Traveler's checks Demand deposits and other checking accounts Savings accounts Time deposits Individual money market mutual fund balances $ trillions $1.2 $0.004 $2.204 $9.805 $0.527 $1.176

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter11: The Monetary System

Section: Chapter Questions

Problem 5PA

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