Suppose a person cashes his payroll check and holds all the funds in the form of currency. Everything else held constant, total reserves in the banking system ________ and the monetary base ________

Inflation can come from the demand side or from the supply side of the economy

a. True b. False Indicate whether the statement is true or false

Mia puts money into a piggy bank so she can spend it later. What function of money does this illustrate?

a. store of value b. medium of exchange c. unit of account d. None of the above is correct.