Question: Answer the questions below from the data in table (all figures are in billions of dollars). Total currency issued by the Bank of Canada $26

Answer the questions below from the data in table (all figures are in billions of dollars).

Total currency issued by the Bank of Canada $26

Total personal savings deposits $196

Total demand deposits $28

Deposits of government at the Bank of Canada $5

Currency held by commercial banks 5$

Government bonds owned by the public $105

Nonpersonal term deposits (certificates of deposit) $50

a. Total currency in circulation is $billion.

b. How much larger is M1 than the total currency in circulation?

M1 is larger than total currency by $billion.

c. How much larger is M2 than M1?

M2 is larger than M1 by $billion.

d. How much larger is M3 than M2?

M3 is larger than M2 by $billion.

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