Consider the following balance sheet of the Fed, the US Central Bank:

ASSETS LIABILITIES

1. International Reserves = $100 billion 1. Currency in Circulation = ___________

2. DC = $1200 billion 2. Bank Reserves = $400 billion

a) US Govt Bonds = $550 billion a) Cash in US Bank Vaults = ___________

b) Loans to US Banks = _________ b) Deposits of US banks at the Fed = $10 billion

c) Other = $400 billion

3. Other Assets = $110 billion 3. Other Liabilities = $20 billion ______________________________________________________________________________

A. Fill in the blanks on the above Balance Sheet for (1) Loans to US Banks; (2) Currency in Circulation, and (3) Cash held in US Bank Vaults.

B. Calculate the $-value of the economys Monetary Base. Show your calculations.