In July 2011, currency held by individuals and businesses was $57 billion; chequable deposits owned by individuals were $211 billion and owned by businesses were $277 billion; nonchequable personal...

In July 2011, currency held by individuals and

businesses was $57 billion; chequable deposits

owned by individuals were $211 billion and

owned by businesses were $277 billion; nonchequable personal deposits were $163 billion;

non-chequable business deposits were $29 billion; and term deposits and other deposits were

$303 billion. Calculate M1 and M2 in July 2011.

Depository Institutions (Study Plan 24.2)