Answer to Question #5913 in Economics of Enterprise for Jennifer
How do you determine the size of the M1 money supply for currency 700 billion?
M1 is a category of the money supply that includes all physical money such as coins and currency; it also includes demand deposits, which are checking accounts, and Negotiable Order of Withdrawal (NOW) Accounts. In our case the size of M1 will be equal to the amount of currency: M1 = 700 billion.
This is excellent! I am impressed at the quality of the work. Would it be OK if I send you a list of minor changes to be made in early March? You can then provide me quote and I will pay for the requested changes.