The Table Given Below Shows the Components of Money Supply

The table given below shows the components of money supply in an economy.
Table 12.1
$\begin{array}{|l|c|}\hline {\text { Money Component }} & \text { Amount (in millions) } \\\hline \text { Currency } & \$ 550 \\\text { Travelers' Checks } & \$ 20 \\\text { Savings Deposits } & \$ 180 \\\text { NOW Accounts } & \$ 185 \\\text { Small-Denomination Time Deposits } & \$ 620 \\\text { Retail Money Market Mutual Funds } & \$ 605 \\\text { ATS Accounts } & \$ 180 \\\text { Demand Deposits } & \$ 210 \\\hline\end{array}$
-Refer to Table 12.1 and calculate the value of M1.

A) $550 million
B) $570 million
C) $780 million
D) $1,125 million
E) $1,145 million

Correct Answer:

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