Question 9 - Chapter 10 Assignm > *Homework Help - Q&A from Onl X C ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fttu.blackboard.com%252Fwebapps%252Fportal%252Fframeset.jsp%253Ftab_tab_group_id%253D_2_1%2526url%2530%25252Fwebapps%25252FBb-McGrawHi... * * H M McGraw Hill Bb Welcome, Haoxuan... Mail - Feng, Haoxu... T Synonyms and Ant. W Transition Words &... * *Course Hero Packback Gmail PDF$10 "A 1330 HW3:1.2,1.3 -.. Sign in to your Micr... CNBC road test: Th... How much does an... n Recycling lithium-io. obo More EVs are comi. Chapter 10 Assignment i Saved Help Save & Exit Submit Check my work 9 Initially, the Republic of Gorgonzola has no commercial banking system. To make trading easier and eliminate the need for barter, the government directs the central bank of Gorgonzola to put into circulation 3,000,000 identical paper notes, called guilders. The central bank prints the guilders and distributes them to the people. At this point the Gorgonzolan money supply is 3,000,000 million guilders. 1.66 points In order to keep the money safe, some Gorgonzolan entrepreneurs set up a system of commercial banks. When people need to make a payment, they can either withdraw their guilders or write a check on their account. Checks give the banks permission to transfer guilders from the account of the person paying by check to the account of the person to whom the check is made out. With a system of payments based on checks, the paper guilders need never leave the banking system, although they flow from one bank to another eBook as a depositor of one bank makes a payment to a depositor in another bank. Deposits do not earn interest in this economy. Let's suppose for now that people prefer bank deposits to cash and so deposit all of their guilders with the commercial banks. Assume Print that (1) initially, the Gorgonzolan central bank puts 3,000,000 guilders into circulation and (2) commercial banks desire to hold reserves of 20 percent of deposits. Assume that the public holds no currency. Instructions: Enter your responses as whole numbers. References a. The consolidated balance sheet of Gorgonzolan commercial banks after the initial deposits is: Initial balance sheet Assets Liabilities Currency 30000OC Deposits 30000OC b. The consolidated balance sheet of Gorgonzolan commercial banks after one round of loans is: Balance sheet after first round of loans Assets Liabilities Currency (= reserves) 600000 Deposits 30000OC Loans 24000OC c. The consolidated balance sheet of Gorgonzolan commercial banks after the first redeposit of guilders is: Balance sheet after redeposits Assets Liabilities Currency (= reserves) Deposits Loans d. The consolidated balance sheet of Gorgonzolan commercial banks after two rounds of loans and redeposits is: Balance sheet after second round of loans and redeposits Mc 45 F 9:08 AM Mostly sunny ENG [i ) 4/14/2022Question 9 - Chapter 10 Assignm > *Homework Help - Q&A from Onl X C ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fttu.blackboard.com%252Fwebapps%252Fportal%252Fframeset.jsp%253Ftab_tab_group_id%253D_2_1%2526url%2530%25252Fwebapps%25252FBb-McGrawHi... _ * * H M McGraw Hill Bb Welcome, Haoxuan... Mail - Feng, Haoxu.. T Synonyms and Ant. W Transition Words &.. Course Hero Packback M Gmail PDF$19 2 1330 HW3:1.2, 1.3 -... Sign in to your Micr... CNBC road test: Th... How much does an... n Recycling lithium-io. obo More EVs are comi... Chapter 10 Assignment i Saved Help Save & Exit Submit Check my work 9 a. Ine consolidated balance sheet Of Gorgonzolan commercial banks after the Initial deposits IS: Initial balance sheet Assets Liabilities 1.66 Currency 30000OC Deposits 30000OC points b. The consolidated balance sheet of Gorgonzolan commercial banks after one round of loans is: eBook Balance sheet after first round of loans Assets Liabilities Print Currency (= reserves 600000 Deposits 30000OC Loans 24000OC References c. The consolidated balance sheet of Gorgonzolan commercial banks after the first redeposit of guilders is: Balance sheet after redeposits Assets Liabilities Currency (= reserves) Deposits Loans d. The consolidated balance sheet of Gorgonzolan commercial banks after two rounds of loans and redeposits is: Balance sheet after second round of loans and redeposits Assets Liabilities Currency (= reserves Deposits Loans e. The final values of bank reserves, loans, deposits are: Final consolidated balance sheet Assets Liabilities Currency Final value of bank reserves Deposits Loans The final value of the money supply is: guilders. Mc 45 F Mostly sunny ~ ENG [i ) 9:08 AM 4/14/2022