Sharon sells a government security worth $4,600,000 to the Federal Reserve Bank of Kansas City.She then deposits the funds in her checking account at First Commerce Bank.Her checking accounthad a $150,000 balance before this deposit.The reserves of First Commerce Bank would

Question

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When Sharon deposits the $4,600,000 from the sale of the government security into her checking account, the reserves of First Commerce Bank increase by the same amount, $4,600,000.

Sharon Sells a Government Security Worth $4,600,000 to the Federal