Money, Banking, and Economic Welfare

accounts American amount assets authorities balance bank reserves billion bonds borrowing capital cash cause cent changes commercial banks consumer controls costs countries currency debt decline deficit demand demand deposits deposits desired determined direct dollar economic effects equal equilibrium excess exchange existing expansion expenditures exports Federal Reserve Figure firms flow foreign funds gold growth higher holdings important income increase individual inflation influence institutions interest interest rates investment involved issues lending less limited liquidity loans major measure ment monetary monetary policy money supply notes operations output payments period position problem production purchases quantity raise rates reduced relation relatively reserve requirements result rise saving sectors securities sell shift spending substantial Table tend tion trade transactions Treasury unemployment United variations welfare