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1、Chapter13AnswerstoEnd-of-ChapterProblemsandApplications2.AstheChinesegovernmentwasbeingdefeated,Chinesepapercurrencywasceasingtobefiatmoney,but,atleastinJapan,hadbecomeacommoditymoney.4.ThereisnoeffectonM1becausebothcurrencyandcheckingaccountbalancesareincludedinthatmeasure
2、ofthemoneysupply.BecauseM1isnotaffected,neitherisM2.6.Deposits.Havingmoredepositsallowsthesebankstomakeloansandotherinvestmentsonwhichtheyareabletomakeprofits.8.Thereisnoimpact.The$100waspartofM1whenitwasinyourcheckingaccountandisstillpartofM1whenyouholditascurrency.10.Yes.
3、Thestatementiscorrect.Whenbankreservesincreases,theyincreasetheirloans,whichcreatesnewcheckingaccountdeposits,therebyexpandingthemoneysupply.12.a.BankofAmericaAssetsLiabilitiesReserves+$2,000Deposits+$2,000228Money,Banks,andtheFederalReserveSystem229b.BankofAmericaAssetsLia
4、bilitiesReserves+$2,000Deposits+$2,000Loans+$1,600Deposits+$1,600c.BankofAmericaAssetsLiabilitiesReserves+$400Deposits+$2,000Loans+$1,600CitibankBankAssetsLiabilitiesReserves+$1,600Deposits+$1,600230Chapter131d.Changeincheckingaccountdeposits=$2,000x=$2,000x5=$10,0000.20Bec
5、ausecheckingaccountdepositsarepartofthemoneysupply,itistemptingtosaythatthemoneysupplyhasalsoincreasedby$10,000.Butrememberthatyour$2,000incurrencywascountedaspartofthemoneysupplywhileyouhadit,butisnotincludedwhenitissittinginabankvault.Therefore,Changeinthemoneysupply=Incr
6、easeincheckingaccountdeposits–Declineincurrencyincirculation=$10,000–$2,000=$8,000.14.a.FNBAssetsLiabilitiesReserves+$10millionDiscountLoan+$10millionb.$10million1c.Changeincheckingaccountdeposits=$10millionx=$100million.0.1016.a.Pricedeflationoccurswhenthepriceleveldecline
7、sfromoneyeartothenext.b.Ordinarily,asthequantitytheoryofmoneyindicates,assumingvelocitydoesnotdecline,rapidincreasesinthemoneysupplyleadtoinflation.c.Ifconsumersbelievethatpricesarefalling,theymaypostponepurchasesbecausetheyexpectpricestobelowerinthefuture.Thisdeclineincons
8、umptionmaypushtheeconomyintorecession.18.Banksdonotprintmoney,buttheycreatemoney,s
