Table 14.2Monetary Aggregates of the U.S. Financial SystemItemAmountCash held by public$100 billionTransactions deposits$300 billionRequired reserves$30 billionExcess reserves$0 billionU.S. bonds held by public$475 billionAssume an original balance sheet: The total money supply (M1) in Table 14.2 is
A. $400 billion.
B. $430 billion.
C. $100 billion.
D. $905 billion.
Answer: A
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