The monetary base does NOT include
A) currency.
B) reserves of depository institutions.
C) checking accounts at commercial banks.
D) commercial banks' reserves.

Question

Quizplus · Accepted Answer

The monetary base includes currency in circulation and reserves held by banks at the central bank, but it does not include checking accounts at commercial banks, as these are part of the broader money supply but not the base money itself.

The Monetary Base Does NOT Include