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 280
Deposits of government at the Bank of Canada 50
Currency held by commercial banks 5
Canada Savings Bonds and non-money market mutual funds 295
Government bonds owned by the public 105
Deposits at near-banks(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 M2+ than M2? M2+ is larger than M2 by $ billion.

e. How much larger is M2++ than M2+?

M2++ is larger than M2+ by $ billion.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!