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

question 78

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

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Definitions:

Express Agency

An agency relationship created by an explicit written or oral agreement between the agent and the principal.

Exclusive Agency

A contractual arrangement in which one agent is given the exclusive right to represent a client or a property, typically in the sale of real estate or intellectual property.

Agency Contract

An agreement where one party (the agent) agrees to act on behalf of another (the principal) in business transactions.

Durable Power

A form of power of attorney that remains in effect even if the grantor becomes incapacitated or unable to make decisions.