Which of the following is NOT a part of the monetary base?
A) U.S. government securities owned by the Fed
B) First Bankʹs required reserves held at the Federal Reserve
C) Chemical Bankʹs deposits of reserves at the Fed
D) Federal Reserve notes

Question

Quizplus · Accepted Answer

U.S. government securities owned by the Fed are not part of the monetary base. The monetary base includes currency in circulation and reserves held by banks at the Federal Reserve, which are represented by options B, C, and D.

Which of the Following Is NOT a Part of the Monetary