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Assume there are $615 billion in bank deposits in the economy. The current reserve requirement for banks is 11%. What I be the total change
Assume there are $615 billion in bank deposits in the economy. The current reserve requirement for banks is 11%. What I be the total change (positive or negative) in bank deposits (in millions) if the Fed decreases the reserve requirement to 8%, assuming that banks lend out 85 cents of every dollar in excess reserves, and that only 75% of every dollar lent out makes it back to banks in the form of deposits? O $47.52M O $43.56M O $732.14M O-$18.23M O-$4356M Assume there are $615 billion in bank deposits in the economy. The current reserve requirement for banks is 11%. What I be the total change (positive or negative) in bank deposits (in millions) if the Fed decreases the reserve requirement to 8%, assuming that banks lend out 85 cents of every dollar in excess reserves, and that only 75% of every dollar lent out makes it back to banks in the form of deposits? O $47.52M O $43.56M O $732.14M O-$18.23M O-$4356M
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