Let's assume that Jon has $1,000 in currency that he has been carrying around. Jon decides this is unsafe and...
khari6Let's assume that Jon has $1,000 in currency that he has been carrying around. Jon decides this is unsafe and deposits the full $1000 into his checking account at The River Bank. By how much has total M1 in the country changed by this transaction alone?
| The River Bank (marketing slogan: “we specialize in liquidity”) | |||||||
| . | Assets | Liabilities and Capital | |||||
| . | Deposits at The Fed | $40,000 | Checkable Deposits | $500,000 | |||
| . | Cash on Hand (Vault cash) | $10,000 | Securities Sold/Issued | $10,000 | |||
| . | Securities Owned | $150,000 | Net Capital | $10,000 | |||
| . | Loans | $300,000 | |||||
| . | Other Long-term Assets | $20,000 | |||||
| . | Total Reserves On Hand: | ||||||
| . | Required Reserves: | ||||||
| . | Excess Reserves: | ||||||
11 years ago
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