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Suppose a credit union has checkable deposits of $400,000 and the legal reserve ratio is 10 percent. If the institution has excess reserves of $4,000,
Suppose a credit union has checkable deposits of $400,000 and the legal reserve ratio is 10 percent. If the institution has excess reserves of $4,000, then its actual reserves are
Multiple Choice
- $44,000.
- $36,000.
- $4,000.
- $40,000.
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Foundations of Mathematical Economics
Authors: Michael Carter
1st edition
262531925, 978-0262531924
