Assume that the following asset values (in millions of dollars) exist in Ironmania: Category Value (Millions) Federal Reserve Notes in circulation $750 Money market mutual funds (MMMFS) held by individuals 400 Corporate bonds 300 Iron ore deposits 50 Currency in commercial banks 100 Savings deposits, including money market deposit accounts (MMDAS) 140 Checkable deposits 1,500 Small-denominated (less than $100,000) time deposits 100 Coins in circulation 40 Instructions: Enter your answers as a whole number. a. What is MI in Ironmania? $ million b. What is M2 in Ironmania? 2$ million

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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Assume that the following asset values (in millions of dollars) exist in Ironmania:
Category
Value (Millions)
Federal Reserve Notes in circulation
$750
Money market mutual funds (MMMFS) held by individuals
400
Corporate bonds
300
Iron ore deposits
50
Currency in commercial banks
100
Savings deposits, including money market deposit accounts (MMDAS)
140
Checkable deposits
1,500
Small-denominated (less than $100,000) time deposits
100
Coins in circulation
40
Instructions: Enter your answers as a whole number.
a. What is M in Ironmania?
million
b. What is M2 in Ironmania?
million
%24
Transcribed Image Text:Assume that the following asset values (in millions of dollars) exist in Ironmania: Category Value (Millions) Federal Reserve Notes in circulation $750 Money market mutual funds (MMMFS) held by individuals 400 Corporate bonds 300 Iron ore deposits 50 Currency in commercial banks 100 Savings deposits, including money market deposit accounts (MMDAS) 140 Checkable deposits 1,500 Small-denominated (less than $100,000) time deposits 100 Coins in circulation 40 Instructions: Enter your answers as a whole number. a. What is M in Ironmania? million b. What is M2 in Ironmania? million %24
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