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There are two people involved in this money transaction: Jonas, Mikel, and Martin. Jonas goes to BoA to deposit 1500 dollars he had in hand.
There are two people involved in this money transaction: Jonas, Mikel, and Martin. Jonas goes to BoA to deposit 1500 dollars he had in hand. In the beginning, BoA reserve ratio is 100%. Now a month later, BoA is keeping 20% of deposits and Mikel is taking the remainder as a loan. What should be the money supply based on this story? Group of answer choices 1500 3000 5000 2700
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