Question 15
The following table lists components of the money supply. Using the data in the table, what is the total value of M1?
Components $ billions
Currency $200.2
Traveler’s checks $2.9
Demand deposits and other checking accounts $505.1
Savings accounts $788.0
Time deposits $51.4
Individual money market mutual fund balances $360.0
$2,923.0 billion
$708.2 billion
$1,907.6 billion
$1,496.2 billion