If Currency Outside of Banks Is $800 Billion; Traveler's Checks

question 32

Multiple Choice

If currency outside of banks is $800 billion; traveler's checks are $10 billion; checkable deposits owned by individuals and businesses are $700 billion; savings deposits are $4,000 billion; small time deposits are $1,000 billion; and money market funds and other deposits are $800 billion, then M2 equals_{--------------------} billion.

• A)$5,800
• B)$1,510
• C)$7,310
• D)$710
• E)$2,510

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Definitions:

Writing

The act or process of creating symbols such as letters or numbers on a surface to communicate or record information.

Statute of Frauds

A legal concept that requires certain types of contracts to be in writing in order to be enforceable.

Void

Describes a contract or legal agreement that is invalid or without legal effect from its inception.

Agreement

A mutual understanding or arrangement between two or more parties, often legally binding, detailing specific terms and conditions.