The table that follows shows the components of M1+, M2, and M2+ in billions of dollars from January 2016 to March 2017 as published in the Bank of Canada's Banking and Financial Statistics published in June 2017. Complete the table by calculating M1+, M2, M2+, currency in circulation as a percentage of M1+, and currency in circulation as a percentage of M2+. What trends or patterns about M1+, M2, M2+, currency in circulation as a percentage of M1+, and currency in circulation as a percentage of M2+ do you see? What might account for these trends?

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January February March 2016 August September October November December January February March April May June July 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2017 2017 2017 Currency outside banks 74.3 74.7 75.0 75.4 76.0 76.2 76.6 76.9 77.2 77.8 78.2 78.5 78.8 78.9 79.6 Deposits at chartered banks Chequable deposits 671.2 674.1 678.5 722.1 665.9 684.2 686.0 697.1 701.0 708.9 716.1 729.0 739.3 735.0 744.6 Personal term 625.1 606.3 613.8 616.3 620.8 621.8 628.7 631.8 633.1 637.5 642.3 641.8 650.9 653.1 654.0 deposits Non-personal depos its (non-chequable) 47.2 45.6 44.5 43.5 43.4 44.2 45.6 46.4 48.3 49.3 51.0 50.3 49.9 49.2 50.0 Deposits at trust and mortgage loan companies, credit unions, caisses populaires Chequable deposits 83.0 87.2 86.8 81.2 81.9 82.4 82.5 84.1 86.3 87.6 87.6 86.9 86.6 88.0 88.0 Non-chequable deposits 224.8 225.6 227.2 233.2 224.4 226.2 228.3 228.9 228.0 228.8 230.5 230.7 232.4 232.0 232.5 Deposits at other financial institu tions, including life insurance 51.0 52.2 51.4 50.5 50.6 50.7 51.6 52.2 52.5 52.5 52.5 51.8 51.5 51.4 51.5 company individ- ual annuities Money market mutual funds 22.9 22.9 22.6 21.9 22.0 21.7 21.7 21.7 21.7 21.8 21.8 21.9 21.6 21.5 22.0 Adjustment to M2 -1.6 -1.3 -1.1 -1.3 -1.4 -0.7 -0.8 -0.3 -0.5 -0.7 -0.9 -0.8 -4.6 -4.3 -4.4 Adjustment to M2+ -1.7 -1.7 -1.3 -1.4 -1.4 -1.6 -1.7 -1.8 -1.7 -1.7 -1.6 -1.5 2.6 2.7 2.7 M1+ M2 M2+ Currency in circulation as a per- centage of M1+ Currency in circulation as a per- centage of M2+ Data from: The Bank of Canada.