In December 2009, currency outside of banks was $400 billion, traveler's checks were $5 billion; checkable deposits owned by individuals and businesses were $600 billion, saving deposits were $2,000 billion, time deposits were $1,500 billion; and
money market funds were $1,200 billion. What was the M2 in December 2009? A) M2 = $5,705 billion
B) M2 = $3,705 billion
C) M2 = $1,005 billion
D) M2 = $2,505 billion
E) M2 = $5,700 billion
A
Economics
You might also like to view...
The purpose of expansionary fiscal policy is to
a. increase output b. prevent hyperinflation c. slow the growth of the GDP d. increase the separation between government and private industry
Economics
If a percentage decrease in money supply is followed by a proportional percentage decrease in prices and output, this means that:
a. the velocity of money is constant. b. the economy is in a recession. c. the velocity of money has fallen. d. real GDP is constant. e. the economy is not at maximum capacity
Economics