terrichichester-BU204-homework-unit8

# terrichichester-BU204-homework-unit8 - HOMEWORK - UNIT 8...

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H OMEWORK - UNIT 8 Chapter 13: Problems 3 and 12 on pages 340-341 Chapter 14: Problems 5 and 10 on pages 366-367 Chapter 13 / MONEY, BANKING, AND THE FEDERAL RESERVE SYSTEM /24 3. The table below shows the components of M1 and M2 in billions of dollars for the month of December in the years 1995 to 2004 as published in the 2005 Economic Report of the President. Complete the table by calculating M1, M2, currency in circulation as a percentage of M1, and currency in circulation as a percentage of M2. (12 pts) Year Currency in circulation Traveler’s checks Checkable deposits Money market funds Time deposits smaller than \$100,000 Savings deposits 199 5 \$372.1 \$9.1 \$745.9 \$448.8 \$931.4 \$1,134 199 6 394.1 8.8 676.5 517.4 946.8 1,273.1 199 7 424.6 8.5 639.5 592.2 967.9 1,399.1 199 8 459.9 8.5 627.7 732.7 951.5 1,603.6 199 9 517.7 8.6 597.7 832.5 954.0 1,738.2 200 0 531.6 8.3 548.1 924.2 1,044.2 1,876.2 200 1 582.0 8.0 589.3 987.2 972.8 2,308.9 200 2 627.4 7.8 582.0 915.5 892.1 2,769.5 200 3 663.9 7.7 621.8 801.1 809.4 3,158.5 200 4 699.3 7.6 656.2 714.4 814.0 3,505.9

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Year M1 M2 Currency in circulation as a percentage of M1 Currency in circulation as a percentage of M2 199 5 1,127.1 3,641.3 33% 10.2% 199 6 1,079.4 3,816.7 36.5% 10.3% 199 7 1,072.6 4,031.8 39.6%
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## This note was uploaded on 11/14/2011 for the course BU 204 204 taught by Professor Lyncheski during the Spring '11 term at Kaplan University.

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terrichichester-BU204-homework-unit8 - HOMEWORK - UNIT 8...

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