The table below presents data for different components of the U S money supply in January 2007 Use the information in the table to answer the questions that follow (all values are in billions of dollars) Components Amount Currency $751 Checkable deposits $616 Money market account $787 Savings $3,706 Small denomination time deposits $1,213 Traveler's checks $7 3 Month U S Treasury bills $2,300 In January2007, the total value of M1 was $ billion In January2007, the total value of M2 was $ billion

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Question: The table below presents data for different components of the U.S. money supply in January 2007. Use the information in the table to answer the

The table below presents data for different components of the U.S. money supply in January 2007. Use the information in the table to answer the questions that follow (all values are in billions of dollars):

Components	Amount
Currency	$751
Checkable deposits	$616
Money market account	$787
Savings	$3,706
Small-denomination time deposits	$1,213
Traveler's checks	$7
3-Month U.S. Treasury bills	$2,300

In January2007, the total value of M1 was $ billion. In January2007, the total value of M2 was $ billion.

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