It means, the sum of Z and a larger part of U gets added, at the end of each production period, to the owned-money component of the total stock of money; its other component being the amount of money borrowed from commercial banks.
It means, the sum of Z gets added to the owned-money component of the total stock of money; its other component being the amount of money. This was at the end of each production period. It means, a larger part of U gets added to the owned-money component of the total stock of money; its other component being the amount of money. This was at the end of each production period. This money is borrowed from commercial banks.