The table gives information about items on a bank's balance sheet. Calculate the bank's deposits that are part of M1, deposits that are part of M2, and the bank's loans, securities, and reserves The bank's deposits that are part of M1 equal $ __ million The bank's deposits that are part of M2 equal $ __ million. Item (millions of dollars) Checkable deposits 300 Savings deposits 400
Small time deposits 1240
Loans to businesses 1,150
Government securities 700
Currency 40
Reserves at the Fed 50