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 level of total reserves in Table 14.2 is

In the United States, the use of fiscal policy tools to stabilize the economy gained prominence during

A) the Clinton administration. B) the Kennedy administration. C) the Reagan administration. D) the depression era.

The fastest growing money supply since 1970 has been

a. M1 b. M2 c. M3 d. M1 and M3 (approximately the same rate) and not M2 because M2 is part of M3 e. M1, M2, and M3 which, by definition, must grow at the same rate