Final answer:
The top drawer cash limit varies by business and is not specified in the provided details. For the average currency per person, most of the cash is in banks, not with individuals. As for money supply, certain items fall under M1, M2, or neither, such as $1 in quarters (M1), $2000 in a money market account (M2), and a $5,000 line of credit (neither).
Step-by-step explanation:
The top drawer cash limit refers to the maximum amount of cash a business permits to be kept in a cash register's top drawer. This figure could vary depending on the business's policies and industry standards. It isn't explicitly indicated in the details provided. However, businesses typically set these limits based on the need to reduce the risk of loss or theft.
As for the reference information provided, it lists the US income tax brackets, which are not directly related to a business's top drawer cash limit. Regarding currency in circulation, it is correct that the average currency in circulation per person in the U.S. is about $3,500. Still, most of that cash is not carried by individuals daily. It could be in banks, businesses, ATMs, or savings.
In terms of M1 and M2 money supplies, the following items would be categorized as:
- M1: includes currency held by the public, traveler's checks, demand deposits, and other checkable deposits. Examples would be $1 in quarters in your pocket (c) and $1200 in your checking account (d).
- M2: includes all of M1 plus savings deposits, small-denomination time deposits, and retail money market mutual fund shares. This would likely include $50 worth of traveler's checks (b) and $2000 in a money market account (e).
- Neither M1 nor M2: The $5,000 line of credit on your Bank of America card (a) is not part of M1 or M2 since it represents potential borrowing, not actual currency or deposits.
Finally, to answer the specific question related to bank stacks: one stack of $10,000 would require 100 million stacks to reach one trillion dollars.