|Question||In February 2001, currency held by individuals and businesses was $537.1 billion; traveler’s checks were $8.0 billion; checkable deposits owned by individuals and businesses were $544.9 billion; savings deposits were $1,927.3 billion; small time deposits were $1,052 billion; and money market funds were $958.5 billion.
a. What was M1 in February 2001?
b. What was M2 in February 2001?