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19. Mr. Hoard who has been keeping $5,000 in cash under his mattress just deposits the $5,000 into his account at Bank One. What are

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19. Mr. Hoard who has been keeping $5,000 in cash under his mattress just deposits the $5,000 into his account at Bank One. What are the highest possible checking deposits that can be created by this initial deposit in the economy? Assume that the required reserve ratio is 20% and that banks hold no excess reserves a. $5,000 b. $10,000 c. $25,000 d. $40,000

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