Suppose that at the end of December 2009, Federal Reserve notes were $600 billion, the quantity of coins was $30 billion, and the monetary base in the United States was $645 billion. Calculate the banks' reserves at the Fed. Banks' reserves at the Fed are $ billion.
Suppose that at the end of December 2009, Federal Reserve notes were $600 billion, the quantity of coins was $30 billion, and the monetary base in the United States was $645 billion. Calculate the banks' reserves at the Fed. Banks' reserves at the Fed are $ billion.
Chapter13: The Federal Reserve System
Section: Chapter Questions
Problem 6QP
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