Assume the Grand Slam Baseball Store sells $100 worth of baseball cards each day, with 1 employee operating the store. The owner decides to hire a second worker, and the 2 workers together sell $150 worth of baseball cards. What is the second worker’s mar

At stage a, DMV Corporation converted its $3 million demand deposit, which was held at the New York Money Center Bank, into a $3 million Eurodollar deposit at Barclays Bank in London. This means that DMV Corporation made a deposit of $3 million in US dollars into the New York Money Center Bank, and then withdrew it to deposit it into Barclays Bank in London. This created a liability of $3 million for Barclays Bank in the form of a Eurodollar deposit. At stage b, Barclays Bank opened a $3 million Eurodollar deposit at the Bank of England. This means that Barclays Bank deposited $3 million in its own Eurodollar deposit at the Bank of England, creating a liability for the Bank of England. At stage c, the Bank of England made a $3 million Eurodollar loan to Pflug & Company in England. This means that the Bank of England lent $3 million Eurodollars to Pflug & Company, which created a new liability for Pflug & Company. In total, two Eurodollar deposit liabilities were created - one for Barclays Bank and one for the Bank of England. The original demand deposit held by DMV Corporation was converted to a Eurodollar deposit held by Barclays Bank, resulting in no change in the total amount of liability for the banking system.