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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

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BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383
Textbook Problem

If bank deposits at the Fed equal $40 million and reserves equal $43 million, then how much does vault cash equal?

To determine

Identify the vault cash.

Explanation

The reserves of the commercial banks are equal to the deposits of the banks with Fed plus the amount kept in vault account. It can be represented as follows:

Reserves=Bank deposits at the Fed+Vault cash        (1)

Since the bank deposits are $40 million and the reserves are equal to $43 million, the value of vault cash ca

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