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)?
you should be ashamed
To calculate M1 and M2, you need to add up the relevant components in the table.
1. M1 represents the sum of currency in circulation, traveler's checks, and checkable deposits.
- To calculate M1 for each year, add up the values for "Currency in circulation," "Traveler's checks," and "Checkable deposits."
2. M2 represents the sum of M1, money market funds, time deposits smaller than $100,000, and savings deposits.
- To calculate M2 for each year, add up the values of M1 you calculated earlier, "Money market funds," "Time deposits smaller than $100,000," and "Savings deposits."
3. To calculate the "Currency in circulation as a percentage of M1" for each year, divide the value of "Currency in circulation" by the value of M1 and multiply by 100.
4. To calculate the "Currency in circulation as a percentage of M2" for each year, divide the value of "Currency in circulation" by the value of M2 and multiply by 100.
Now, using the formula, you can calculate the missing data in the table.
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 | 3,721.4 | - | - | - | -
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 | - | - | - | -
Once you have calculated the missing values, you can identify the trends or patterns in M1, M2, currency in circulation as a percentage of M1, and currency in circulation as a percentage of M2 by analyzing how these values change over the years. Additionally, to account for these trends, you can consider various economic factors such as changes in the money supply, government policies, banking regulations, interest rates, and consumer behaviors.