Answer the questions below using the following information:
All figures are in billions of dollars.
a. What is the value of M1?
b. What is the value of M2?
Definitions:
Utilitarians
A group of philosophers who believe that the best action is the one that maximizes utility, often defined as the well-being of the greatest number of people.
Liberals
A political ideology emphasizing the importance of individual liberties, democracy, and supporting social and economic interventions to promote social justice.
Libertarians
Individuals who advocate for minimal government intervention in the personal and economic lives of citizens.
Progressive Tax
A tax system in which the tax rate increases as the taxable amount increases, thus higher income earners pay a larger percentage of their income in taxes.
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