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If the reserve requirement is 7%, and a Fed purchase of $40 million worth of Treasury bonds increases the money supply by about $333.33 million,
If the reserve requirement is 7%, and a Fed purchase of $40 million worth of Treasury bonds increases the money supply by about $333.33 million, what is the percentage of checking deposits that banks are holding as excess reserves?
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Business A Changing World
Authors: O. C. Ferrell, Geoffrey Hirt, Linda Ferrell
10th edition
1259179397, 978-1259179396
