1) Given the above data about the U.S. economy (assume anything not listed is equal to zero): a What is the money supply (M1)? b. What is the total amount (in $) of reserves that banks are legally required to keep? C. What is the total amount (in $) of reserves that banks have on hand to lend?
1) Given the above data about the U.S. economy (assume anything not listed is equal to zero): a What is the money supply (M1)? b. What is the total amount (in $) of reserves that banks are legally required to keep? C. What is the total amount (in $) of reserves that banks have on hand to lend?
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter27: Money And Banking
Section: Chapter Questions
Problem 30P: A bank has deposits of 400. It holds reserves of 50. It has purchased government bonds worth 70. It...
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