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Macroeconomics 2nd Edition by Campbell McConnell ,Stanley Brue,Sean Flynn
Edition 2ISBN: 978-0077416409Macroeconomics 2nd Edition by Campbell McConnell ,Stanley Brue,Sean Flynn
Edition 2ISBN: 978-0077416409 Exercise 3
Suppose that Serendipity Bank has excess reserves of $8000 and checkable deposits of $150,000. If the reserve ratio is 20 percent, what is the size of the bank's actual reserves? LO2
Explanation
Verified
Verified
Required Reserve= 20/100 of $150,000= $3...
Macroeconomics 2nd Edition by Campbell McConnell ,Stanley Brue,Sean Flynn
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