Question
Assume that the following asset values (in millions of dollars) exist in Ironmania:
Instructions: Enter your answers as a whole number.
What is M1 in Ironmania?
$ million
What is M2 in Ironmania?
$ million
Instructions: Enter your answers as a whole number.
What is M1 in Ironmania?
$ million
What is M2 in Ironmania?
$ million
Answers
GPT-4o mini
To calculate M1 and M2 in Ironmania, we typically need specific values for various components of the money supply. Here's a brief overview of what M1 and M2 generally include:
- **M1:** This includes the most liquid forms of money, such as:
- Currency (coins and paper money)
- Demand deposits (checking accounts)
- Traveler's checks
- Other checkable deposits
- **M2:** This includes all of M1 plus slightly less liquid forms of money, such as:
- Savings accounts
- Time deposits (such as certificates of deposit under $100,000)
- Money market accounts
- Various other near-money assets
If you provide the specific values for each of these categories in Ironmania, I can help you calculate M1 and M2. Please supply the relevant amounts, and I will calculate the totals for you.
- **M1:** This includes the most liquid forms of money, such as:
- Currency (coins and paper money)
- Demand deposits (checking accounts)
- Traveler's checks
- Other checkable deposits
- **M2:** This includes all of M1 plus slightly less liquid forms of money, such as:
- Savings accounts
- Time deposits (such as certificates of deposit under $100,000)
- Money market accounts
- Various other near-money assets
If you provide the specific values for each of these categories in Ironmania, I can help you calculate M1 and M2. Please supply the relevant amounts, and I will calculate the totals for you.