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Lucia withdraws $6,000 from her checking account to pay tuition this semester. Assume that the reserve requirement is 20% and that banks do not hold
Lucia withdraws $6,000 from her checking account to pay tuition this semester. Assume that the reserve requirement is 20% and that banks do not hold excess reserves. Immediater after the withdrawal, reserves , and checkabie deposits 6) decrease by $1,200; decrease by $1,200 0 decrease by $6,000; decrease by $6,000 0 increase by 3 1,200; decrease by $1,200 0 increase by $6,000; increase by $6,000
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