Assume that the following asset values (in millions of dollars) exist in Ironmania: Federal Reserve Notes in
Question:
Assume that the following asset values (in millions of dollars) exist in Ironmania: Federal Reserve Notes in circulation = $700; Money market mutual funds (MMMFs) held by individuals = $400; Corporate bonds =
$300; Iron ore deposits = $50; Currency in commercial banks = $100;
Savings deposits, including money market deposit accounts (MMDAs) =
$140; Checkable deposits = $1500; Small-denominated (less than
$100,000) time deposits = $100; Coins in circulation = $40.
a. What is M1 in Ironmania?
b. What is M2 in Ironmania?
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M1 and M2 in Ironmania a M1 in Ironmania M1 refers to the most liquid forms of m...View the full answer
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Related Book For 
Macroeconomics
ISBN: 9780077337728
19th Edition
Authors: Campbell Mcconnell, Stanley Brue, Sean Flynn, Flynn Mcconnell Brue
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