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MMLU-Pro / 7085 / Suppose the balance sheet of an American bank looks, in its simplifiedform as…

Problem

Answer published by the source. Consult the official source to check your work against its answer.

question

Suppose the balance sheet of an American bank looks, in its simplifiedform as follows (in 1000 dollars): Assets Liabilities and Capital cash 2,000Demanddeposits2,000 Demand deposits 12,000 Time & savings deposits 1,200 Balances in British bank 1,000 Deposits of states 600 U.S. Secur-ities 1,500 Common stock 200 Obligations 3,000 Surplus 1,000 Loans 9,000 Undivided profits 1,500 16,500 16,500 16,500 An Americanimporterwho is a depositor at this bank, buys 700worthofBritishpoundstopayforhisimportsfromGreatBritain.Britishexporterdeposits700 worth of British pounds to pay for his imports from Great Britain. British exporter deposits 2000 worth of British poundsin the bank in exchange for dollars. The State of New York sells an obligation of 1,000tothebankandwithdraws1,000 to the bank and withdraws700 in the form of cash. How is the balance statement of this bank changed? How muchare the excess reserves in the original and in the new situationif the legal reserve requirement is 24%?
Plain-text mathematical notation (without MathML)
Suppose the balance sheet of an American bank looks, in its simplifiedform as follows (in 1000 dollars): Assets Liabilities and Capital cash 2,000Demanddeposits12,000 Time & savings deposits 1,200 Balances in British bank 1,000 Deposits of states 600 U.S. Secur-ities 1,500 Common stock 200 Obligations 3,000 Surplus 1,000 Loans 9,000 Undivided profits 1,500 16,500 16,500 An Americanimporterwho is a depositor at this bank, buys 700worthofBritishpoundstopayforhisimportsfromGreatBritain.Britishexporterdeposits2000 worth of British poundsin the bank in exchange for dollars. The State of New York sells an obligation of 1,000tothebankandwithdraws700 in the form of cash. How is the balance statement of this bank changed? How muchare the excess reserves in the original and in the new situationif the legal reserve requirement is 24%?
Original LaTeX notation
Suppose the balance sheet of an American bank looks, in its simplifiedform as follows (in 1000 dollars): Assets Liabilities and Capital cash $2,000 Demand deposits $12,000 Time & savings deposits 1,200 Balances in British bank 1,000 Deposits of states 600 U.S. Secur-ities 1,500 Common stock 200 Obligations 3,000 Surplus 1,000 Loans 9,000 Undivided profits 1,500 $ 16,500 $ 16,500 An Americanimporterwho is a depositor at this bank, buys $700 worth of British pounds to pay for his imports from Great Britain. British exporter deposits $2000 worth of British poundsin the bank in exchange for dollars. The State of New York sells an obligation of $1,000 to the bank and withdraws$700 in the form of cash. How is the balance statement of this bank changed? How muchare the excess reserves in the original and in the new situationif the legal reserve requirement is 24%?

category

economics

options

  1. $5,000
  2. $3,800
  3. $120
  4. $2,880
  5. $408
  6. $600
  7. $3,192
  8. $2,300
  9. $1,760
  10. $2,100

src

stemez-Economics

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Source and history

upstream_id / Original problem ID
7085
task_id
5a328f5b-6de0-58cf-9281-6afe5bd7ff43
task_key
default--test--7085
task_revision_id
1
config / split
default / test

Official source

initial import