The table below shows the components of M1 and M2 in the U.S. Use the table to calculate Total M2. Round to the third decimal place. Components of M1 and M2 in the U.S. $ trillions Currency $3 Individual market mutual fund balances $0.764 Demand deposits and other checking accounts $3.1 Savings accounts $8.475 Traveler's checks $0.004 Time deposits $0.492

Brief Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter11: The Monetary System
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The table below shows the components of M1 and M2 in the U.S. Use the table to calculate Total
M2. Round to the third decimal place.
Components of M1 and M2 in the U.S.
$ trillions
Currency
$3
Individual market mutual fund balances
$0.764
Demand deposits and other checking accounts
$3.1
Savings accounts
$8.475
Traveler's checks
$0.004
Time deposits
$0.492
Transcribed Image Text:The table below shows the components of M1 and M2 in the U.S. Use the table to calculate Total M2. Round to the third decimal place. Components of M1 and M2 in the U.S. $ trillions Currency $3 Individual market mutual fund balances $0.764 Demand deposits and other checking accounts $3.1 Savings accounts $8.475 Traveler's checks $0.004 Time deposits $0.492
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