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ddd [48]
3 years ago
10

October 2010, the amount of money held by individuals and companies was $893.4 billion; checkable deposits owned by the same ind

ividuals and companies were $345.6 billion; money market funds were $1.9423 trillion; savings deposits were $989.4 billion, finally, time deposits were $243.8 billion.
What is the M1 for October 2010?
Business
1 answer:
Sloan [31]3 years ago
4 0

Answer:

M1 $1.24 trillion

M2 $4.41 trillion

M1 and M2 money have several definitions, ranging from narrow to broad. M1 = coins and currency in circulation + checkable (demand) deposit + traveler's checks. M2 = M1 + savings deposits + money market funds + certificates of deposit + other time deposits.

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