Assume that jimmy cash has $2,300 in his checking account at folsom bank and uses his checking account card to withdraw $230 of cash from the bank’s atm machine. instructions: enter your answer as a whole number. by what dollar amount did the m1 money supply change as a result of this single, isolated transaction?

net change is 0

Explanation:

M1 type of money include cash and checking amounts. Jimmy withdraw $290 amount of money from account card by using bank ATM. Hence check able deposited is 2300 - 230 = $2070. This will decrease in M1 but the cash amount is also increases by some amount of $2300 therefore M1 again increase to same amount i.e. $2300. overall there is no change in M1 i.e net change is 0

i believe that it is a 45% chance.

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