1. One of the principal defects of commodity money is that its worth as a:
A. Medium of exchange may exceed its worth as a standard of account, causing it to cease being useful as money
B. Unit of account may exceed its worth as a store of value, causing it to cease being useful as mone
C. Medium of exchange may exceed its worth as a store of value, causing it to cease being useful as money
D. Commodity may exceed its worth as money, causing it to cease functioning as a medium of exchange.
1. The MBMB Bank of El Campo has $2,450,221 in its reserve account at the beginning of the day. During the day, $644,970 in deposited checks and, $788,450 in checks written by MBMB'S customers are cleared. In addition, $350,000 in currency is delivered to the bank by the Fed. What is the bank's reserve account balance at the end of the day?
3. The first National Bank of Latrobe starts its day with 899,356 in its reserve account. During the day $125,678 in checks are deposited and cleared, and $137,900 in checks written by the bank's customers are cleared. How much is in First National's reserve account at the end of the day?
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