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Macroeconomics 20th Edition by Campbell McConnell ,Stanley Brue ,Sean Flynn
Edition 20ISBN: 978-0077660772Macroeconomics 20th Edition by Campbell McConnell ,Stanley Brue ,Sean Flynn
Edition 20ISBN: 978-0077660772 Exercise 12
A commercial bank has $100 million in checkable-deposit liabilities and $12 million in actual reserves. The required reserve ratio is 10 percent. How big are the bank's excess reserves?
A) $100 million.
B) $88 million.
C) $12 million.
D) $2 million.
A) $100 million.
B) $88 million.
C) $12 million.
D) $2 million.
Explanation
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Verified
The other options are obviousl...
Macroeconomics 20th Edition by Campbell McConnell ,Stanley Brue ,Sean Flynn
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