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In an economy, the amount of money held in currency and coins is $3,500, the amount...

In an economy, the amount of money held in currency and coins is $3,500, the amount of money held as traveler's check is $1,000, the amount of money held as checkable deposits is $2,000, the amount of money held in savings deposit is $4,000, and the amount of money held with retailed money market mutual funds is $700. M1 in the economy equals

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Answer #2

M1 = $ 6,500

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