Home / Questions / Remember that M1 includes Purse money of $45, Jewelry box fund of $100, and checking accou
"Remember that M1 includes Purse money of $45, Jewelry box fund of $100, and checking account funds of $500. So answer to previous question asking the value for M1 was and still is $645 since the sum of Purse money of $45, Jewelry box fund of $100, and checking account funds of $500 is $645. So, I asked you what the value of M2 was and is. You concluded that The total of the other components ($45 + $100 + 1,200 + 800) equals $2,645; however, there is nothing in the list that is $800. Shouldn't M2 include M1(i.e., Purse fund of $45, Jewelry box fund of $100, Checking account fund of $500), Money Market mutual fund of $1,000 and savings account fund of $1,200? So M2 should be $2,845 since $45 + $100 + $500 + $1,000 + $1,200. Right?"
"How did you get $800 in ($45 + $100 + $1,200 + $800) equals $2,645 ?
M2 consists of everything in M1, plus savings deposits, small time deposits (under $100,000), and money-market mutual funds. The only item on the list that is not part of M2 is the value of General Electric stock. The total of the other components ($45 + $100 + 1,200 + 800) equals $2,645"
Nov 10 2017 View more View Less
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