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:
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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
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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.