In December 1994 a man in Ohio decided to deposit all of the 8 million pennies hed
Question:
In December 1994 a man in Ohio decided to deposit all of the 8 million pennies he’d been saving for nearly 65 years. (His deposit weighed over 48,000 pounds!) With a reserve requirement of 5 percent, what will be the cumulative change for the banking system in
(a) Transactions deposits?
(b) Total reserves?
(c) Lending capacity?
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a 1600000 b 80000 c 1520000 Feedback a The 8 million pennies with a multiplier ...View the full answer
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Ali Khawaja
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Related Book For 
The Macro Economy Today
ISBN: 978-1259291821
14th edition
Authors: Bradley R. Schiller, Karen Gebhardt
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