In March 2004, currency held by individuals and businesses was $666.8 billion; traveler’s checks were $7.8 billion; chec

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answerhappygod
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In March 2004, currency held by individuals and businesses was $666.8 billion; traveler’s checks were $7.8 billion; chec

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In March 2004, currency held by individuals and businesses was$666.8 billion; traveler’s checks were $7.8 billion; checkabledeposits owned by individuals and businesses were $651.1 billion;savings deposits were $3,279.1 billion; small time deposits were$802.7 billion; and money market funds and other deposits were$760.5 billion. Calculate M1 and M2 in March 2004.
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