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Assume that Smith deposits $100 In currency Into her checking account In the XYZ Bank Later that some day, Jones negotiates a loan for $1,400 at the same bank In what direction and by what amount has the supply of money changed° Multiple Choice 0 increased by $1,400 Odecreased by $100 Oincreased by $1,500 • increased by $100
Assume that Smith deposits $100 In currency Into her checking account In the XYZ Bank Later that some day, Jones negotiates a loan for $1,400 at the same bank In what direction and by what amount has the supply of money changed°
Multiple Choice 0 increased by $1,400 Odecreased by $100 Oincreased by $1,500
• increased by $100
Expert Solution
M1 supply does not change with checking deposit. the only effect is from the loan. The correct option is 1st "Increased by $1,400".
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