(Scenario: Monetary Base and Money Supply) Assume that the reserve is 20% and the monetary aggregates are in the table. How much is M1?
Bank reserves at the Federal Reserve $200 billion
Currency held by the public $150 billion
Currency in the bank vaults $100 billion
Checkable bank deposits $500 billion
Traveler’s checks $10 billion
$660 billion
$960 billion
$650 billion
$760 billion