Which of the following statements about the monetary aggregates is true? a. The growth rates of M1 and M2 always track each other closely.
b. M1 is greater than M2.
c. When the growth rate of M2 increases, the growth rate of M1 must also increase.
d. When you transfer funds from your savings account to your checking account, M1 increases and M2 stays the same.
Given that, in billions of U. S. dollars, we have 863.2 in currency, 573.5 in demand deposits, 3.8 in traveler's checks, 5237.8 in savings deposits, and 319 in other checkable deposits. The total M1 amount in this economy is s(Round your answer to the nearest one-decimal place).