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24 February, 00:59

In December 2000, currency was $340 billion, traveler's checks were $4 billion; checkable deposits owned by individuals and businesses were $450 billion, saving deposits were $1,900 billion, time deposits were $1,000 billion; and money market funds were $900 billion. What was the M1 in December 2000?

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  1. 24 February, 01:05
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    M1 = $454 billion

    Explanation:

    given data

    currency = $340 billion

    traveler's checks = $4 billion

    individuals and businesses = $450 billion

    saving deposits = $1,900 billion

    time deposits = $1,000 billion

    money market funds = $900 billion

    to find out

    What was the M1 in December 2000

    solution

    we get here M1 in December that is

    M1 = traveler's checks + check deposits ... 1

    put here value we get

    M1 = $4 billion + $450 billion

    M1 = $454 billion
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