Macroeconomics 11th Edition by Michael Parkin

Exercise 6

In June 2011, currency held by individuals and businesses was $963 billion; traveler's checks were $5 billion; checkable deposits owned by individuals and businesses were $977 billion; savings deposits were $5,647 billion; time deposits were $843 billion; and money market funds and other deposits were $659 billion. Calculate Ml and M2 in June 2011.