Ask Question
10 December, 04:37

1) Vault cash is equal to $2 million, deposits by depository institutions at the central bank are $1 million, the monetary base is $15 million, and bank deposits are $35 million. Currency held by the nonbank public is A) $3 million. B) $12 million. C) $15 million. D) $20 million.

+4
Answers (1)
  1. 10 December, 04:53
    0
    B) $12 million.

    Explanation:

    This can be calculated as follows:

    Currency held by the nonbank public = Monetary base - Vault cash - Deposits by depository institutions at the central bank

    Therefore, we will have:

    Currency held by the nonbank public = $15 million - $2 million - $1 million = $12 million
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “1) Vault cash is equal to $2 million, deposits by depository institutions at the central bank are $1 million, the monetary base is $15 ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers