The next questions refer to the following.
The Economic Report of the President estimated that for 1997, the US had the following money stock components (in billions) : $426 in currency; $391.7 in checking account deposits; $8.2 in travelers checks; $242.8 in other checkable deposits; $963.7 in small denomination time deposits; $1395.4 in savings accounts; $591.5 in retail money market mutual funds; $579.2 in large time deposits; $235.9 in term repurchase agreements; $139.1 in Eurodollar accounts; and $359.5 in institutional money market mutual funds.
-The value of M1 was
A) $434.2
B) $825.9
C) $1068.7
D) $2454.1
E) $3417.8
Correct Answer:
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The
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A)
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