Suppose there is a small island economy out in the South Pacific known as Volunteer Island. Following is a complete list of assets on the island. Use this information for the next two questions. $10,000 in cash and coins located throughout the island Another $2,000 cash and coins locked away in bank vaults 10 gold statues of bluetick coonhound dogs, all named "Smokey ," approximate value of $1,000,000 $7,000 in checking account deposits $20,000 in savings accounts deposits $2,500 worth of Volunteer Island government savings bonds, held by citizens Total real estate property valued at $2,000,000 $4,000 held in small time - deposits What is amount of M1 circulating on Volunteer Island?m

Suppose there is a small island economy out in the South Pacific known as Volunteer Island. Following is a complete list of assets on the island. Use this information for the next two questions. $10,000 in cash and coins located throughout the island Another $2,000 cash and coins locked away in bank vaults 10 gold statues of bluetick coonhound dogs, all named "Smokey ," approximate value of $1,000,000 $7,000 in checking account deposits $20,000 in savings accounts deposits $2,500 worth of Volunteer Island government savings bonds, held by citizens Total real estate property valued at $2,000,000 $4,000 held in small time - deposits What is amount of M1 circulating on Volunteer Island?m

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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