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Money and Economic Activity
The American Monetary System
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acceptances activity addition American amount assets authorities balances bank reserves banking system billion bills Board bonds borrowing capital cash central bank changes checks commercial banks commodity consumer consumption Corporation cost currency debt demand demand deposits deposits determined direct dollar economic effect equal excess exchange exist expenditures factors fall Federal Reserve banks Federal Reserve System Figure finance foreign funds gold held hold important income increase individual institutions interest investment issues lending less liabilities liquidity loans means measures member banks ment monetary notes operations payments percent period position price level problem production purchases quantity reduce relative requirements result rise savings securities serve silver stability standard supply Table theory tion trade transactions Treasury United volume York