Question

In October 2010, the amount of money held by individuals and companies was $893.4 billion; checkable deposits owned by the same individuals and companies were $345.6 billion; money market funds were $1.9423 trillion; savings deposits were $989.4 billion; finally, time deposits were $243.8 billion.

What is the M1 for October 2010?

A.) $1.24 trillion or $1,239 billion

B.) $1.34 trillion or $$1,335 billion

C.) $2.84 trillion or $2,836 billion

C.) $1.14 trillion or $1,137 billion

Answer 1

In October 2010, the amount of money held by individuals and companies was $893.4 billion; checkable deposits owned by the same individuals and companies were $345.6 billion; money market funds were $1.9423 trillion; savings deposits were $989.4 billion; finally, time deposits were $243.8 billion.