If the currency in circulation is $100 million,chequable bank deposits are $500 million,savings deposits are $300 million,and traveller's cheques are $10 million,then M1+ is:

Question

Quizplus · Accepted Answer

M1+ includes currency in circulation, chequable bank deposits, and traveller's cheques. Therefore, M1+ = $100 million (currency) + $500 million (chequable deposits) + $10 million (traveller's cheques) = $610 million. However, since $610 million is not an option, the closest correct choice is $600 million.

If the Currency in Circulation Is $100 Million,chequable Bank Deposits