Not really lookign for the answers btu moer of the fomrula or how to find the answers if ok.
thank you
The table below shows the United States components of M1 and M2 in billions of dollars for the month of December in the years 1998 to 2007 as published in the 2008 Economic report of the President.
Year Currency in circulation Traveler's checks Checkable deposits Money market funds Time deposits smaller than $100,000 Savings deposits M1
M2
Currency in circulation as a percentage of M1
Currency in circulation as a percentage of M2
1998 460.5 8.5 626.5 728.9 952.4 1,605.0
1999 517.8 8.6 596.2 819.7 956.8 1,740.3
2000 531.2 8.3 548.0 908.0 1,047.6 1,878.8
2001 581.2 8.0 592.6 962.3 976.5 2,312.8
2002 626.3 7.8 585.6 885.3 896.0 2,778.2
2003 662.5 7.7 635.9 777.4 818.7 3,169.1
2004 697.6 7.5 671.2 697.1 829.9 3,518.3
2005 723.9 7.2 643.4 699.9 995.8 3,6721.4
2006 748.9 6.7 611.4 799.4 1,170.4 3,698.6
2007 759.0 6.3 599.2 976.1 1,216.8 3,889.8
A. Complete the table by calculating M1 (5 points), M2 (5 points), currency in circulation as a percentage of M1 (5 points) , and currency in circulation as a percentage of M2 (5 points). What trends or patterns about M1, M2, currency in circulation as a percentage of M1, and currency of circulation as a percentage of M2 do you see (5 points)? What might account for these trends (10 points)?
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