Compared to the distribution of money income, the distribution of income that takes into consideration the effects of taxes and in-kind benefits

The Fed is a central bank and as such

A) does business only with the federal government. B) provides banking services to banks but not individuals. C) provides banking services to individuals and firms. D) does business with international organizations such as the United Nations. E) is where the Federal Government turns when it needs to borrow.

The quantity of reserves demanded equals

A) required reserves plus borrowed reserves. B) excess reserves plus borrowed reserves. C) required reserves plus excess reserves. D) total reserves minus excess reserves.