How much has total m1 in the country changed

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Reference no: EM13733260

Let's assume that Jon has $1,000 in currency that he has been carrying around. Jon decides this is unsafe and deposits the full $1000 into his checking account at The River Bank. By how much has total M1 in the country changed by this transaction alone?

The River Bank (marketing slogan: "we specialize in liquidity")
.	Assets		Liabilities and Capital
.	Deposits at The Fed	$40,000	Checkable Deposits	$500,000
.	Cash on Hand (Vault cash)	$10,000	Securities Sold/Issued	$10,000
.	Securities Owned	$150,000	Net Capital	$10,000
.	Loans	$300,000
.	Other Long-term Assets	$20,000
.	Total Reserves On Hand:
.	Required Reserves:
.	Excess Reserves:

Reference no: EM13733260

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