Table 14.3Monetary Aggregates of the U.S. Financial SystemItemAmountCash held by public$40 billionTransactions deposits$80 billionRequired reserves$20 billionExcess reserves$0 billionU.S. bonds held by public$125 billionAssume an original balance sheet: The money supply (M1) in Table 14.3 is
A. $20 billion.
B. $80 billion.
C. $40 billion.
D. $120 billion.
Answer: D
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