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Suppose a commercial banking system has $40,000 of outstanding checkable deposits and actual reserves of $4,500. If the reserve ratio is 10 percent, the banking

Suppose a commercial banking system has $40,000 of outstanding checkable deposits and actual reserves of $4,500. If the reserve ratio is 10 percent, the banking system can expand the supply of money by the maximum amount of

Multiple Choice

$5,000.
$44,500.
$400,000.
$4,000.

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