Checkable deposits owned by individuals and businesses

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Reference no: EM131101427

In June 2013, currency held by individuals and businesses was $1,124 billion; traveler’s checks were $4 billion; checkable deposits owned by individuals and businesses were $1,402 billion; savings deposits were $6,884 billion; time deposits were $583 billion; and money market funds and other deposits were $647 billion. Calculate M1 and M2 in June 2013.

Reference no: EM131101427

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