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Currency held outside banks is $400 billion, checkable deposits is $350 billion, traveler’s checks are $2...

Currency held outside banks is $400 billion, checkable deposits is $350 billion, traveler’s checks are $2 billion, and money market mutual funds (retail) are $100 billion. What does M1 equal?

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Answer #1

M1 = Currency + Checkable deposits + travellers check

= $752 billion, mutual funds will not be part of M1 its in M3.

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