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Macroeconomics 11th Edition by Stephen Slavin
Edition 11ISBN: 978-0077641559Macroeconomics 11th Edition by Stephen Slavin
Edition 11ISBN: 978-0077641559 Exercise 28
State numerically what would happen to M1 if:
(a) Ashley Whittingham brought $1,000 to her bank and deposited it in her checking account;
(b) Nicolas Gindorff took $500 out of his checking account and put it in his savings account;
(c) Richard Barnett bought $700 of traveler's checks for which he paid by check.
(a) Ashley Whittingham brought $1,000 to her bank and deposited it in her checking account;
(b) Nicolas Gindorff took $500 out of his checking account and put it in his savings account;
(c) Richard Barnett bought $700 of traveler's checks for which he paid by check.
Explanation
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M1 is the sum of currency, demand deposi...
Macroeconomics 11th Edition by Stephen Slavin
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