Consider the Following Data: Currency (Held Outside Banks)= $354 Billion,checkable

Multiple Choice

Consider the following data: currency (held outside banks) = $354 billion,checkable deposits = $250 billion,traveler's checks = $4 billion,small-denomination time deposits = $200 billion,savings deposits = $100 billion,retail money market mutual funds = $160 billion.M1 equals __________ billion and M2 equals __________ billion.

A) $608; $1,068
B) $708; $1,038
C) $708; $948
D) $694; $1,038
E) none of the above