Economics · Money and Banking
High-powered money is defined as the sum of:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Currency held by the non-bank public and bank reserves✓
- 2Loans given to private people and government bonds held by banks
- 3Demand deposits with banks and cash held by the public
- 4Cash held by banks in their vaults and their deposits with the central bank
Correct answer
Currency held by the non-bank public and bank reserves
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