Question
Suppose a commercial bank has checkable deposits of $60,000 and the legal reserve ratio is 10 percent. If the bank's required and excess reserves are
Suppose a commercial bank has checkable deposits of $60,000 and the legal reserve ratio is 10 percent. If the bank's required and excess reserves are equal, then its actual reserves
Multiple Choice
- are $12,000.
- are $6,000.
- are $600,000.
- cannot be determined from the given information.
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International Economics
Authors: Dominick Salvatore
11th edition
978-1118177938, 1118177932, 1119915732, 978-1118476017, 1118476018, 978-1119915737
