Consider the information for simple economy

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Consider the information below for a simple economy. Assume there are no traveler's checks.

Currency: $1,000

Checking Account Balances: $2,000

Savings Account Balances: $5,000

Small-Denomination Time Deposits: $6,000

Noninstitutional Money Market Fund Shares: $7,000

a) What is M1 in this simple economy? b) What is M2 in this simple economy?

Reference no: EM131104279

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