If currency outside of banks is $800 billion; traveler's checks are $10 billion; checkable deposits owned by individuals and businesses are $700 billion; savings deposits are $4,000 billion; small time deposits are $1,000 billion; and money market funds and other deposits are $800 billion, then M2 equals_{--------------------} billion.

Question

Quizplus · Accepted Answer

M2 includes currency outside banks, traveler's checks, checkable deposits, savings deposits, small time deposits, and money market funds. Adding these amounts gives $800 + $10 + $700 + $4,000 + $1,000 + $800 = $7,310 billion.

If Currency Outside of Banks Is $800 Billion; Traveler's Checks