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Economics of Social Issues 20th Edition by Ansel Sharp, Charles Register , Paul Grimes
Edition 20ISBN: 978-0073523248Economics of Social Issues 20th Edition by Ansel Sharp, Charles Register , Paul Grimes
Edition 20ISBN: 978-0073523248 Exercise 13
Assume a new demand deposit of $1,000 and a legal reserve requirement of 10 percent. Explain in detail how money is created, and show the final balance sheet of the banking system, assuming the maximum increase in the money supply.
Explanation
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Given an initial demand deposit of $1,00...
Economics of Social Issues 20th Edition by Ansel Sharp, Charles Register , Paul Grimes
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