Question: the following information is available to you travelers checks ...
- The following information is available to you: travelers checks = $1 million; coin and paper currency = $30 million; repurchase agreements and Eurodollars = $15 million; demand deposits = $25 million; retail money market mutual funds = $60 million; savings accounts at depository institutions = $40 million; checkable deposits at depository institutions = $35 million; large-denomination time deposits = $50 million; institutional money market mutual funds = $65 million; and small-denomination time deposits = $45 million. Using Fed definitions, determine the dollar sizes of:
- M1 money supply
b. M2 money supply