Scenario 14-1   Currency                                    …

Scenario 14-1   Currency                                                          $1,000 Checking Account Balances                              2,000 Savings Account Balances                                5,000 Small-Denomination Time Deposits                 6,000 Noninstitutional Money Market Fund Shares   7,000 Consider the information above for a simple economy. Assume there are no traveler’s checks. Refer to Scenario 14-1. M1 in this simple economy equals

Scenario 14-1   Currency                                    …

Scenario 14-1   Currency                                                          $1,000 Checking Account Balances                              2,000 Savings Account Balances                                5,000 Small-Denomination Time Deposits                 6,000 Noninstitutional Money Market Fund Shares   7,000 Consider the information above for a simple economy. Assume there are no traveler’s checks. Refer to Scenario 14-1. M1 in this simple economy equals