Norman Medical Center Has Provided You with the Following Budget

question 125

Multiple Choice

Norman Medical Center has provided you with the following budget information for July: $\begin{array}{ll}\text { Cash collections } & \$ 918,000 \\\text { July } 1 \text { cash balance } & 32,000 \\\text { Cash disbursements } & 1,020,400\end{array}$ Norman has a policy of maintaining a minimum cash balance of $30,000 and borrows only in $1,000 increments.How much will Norman borrow in July?

• A)$ 70,400
• B)$ 71,000
• C)$100,400
• D)$101,000

---

Definitions:

Real GDP

An economic metric that quantifies the value of all finished goods and services produced within a country's borders in a specific time period, corrected for changes in price or inflation.

Money Supply

The complete financial resource pool available in an economy at a particular period.

Central Banks

Central banks are national financial institutions that manage a country's currency, money supply, and interest rates, overseeing its monetary policy.

Money Supplies

The overall financial assets tally in an economy at a given point.