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1. Consider the following simplified balance sheet for a bank. Use this balance sheet to answer the questions below: Assets Liabilities Reserves Deposits $70,000 $10,000

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1. Consider the following simplified balance sheet for a bank. Use this balance sheet to answer the questions below: Assets Liabilities Reserves Deposits $70,000 $10,000 Loans $60,000 a. If the required reserve ratio is 0.05, or 5%, how much in excess reserves does the bank hold

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