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Macroeconomics 20th Edition by Campbell McConnell,Stanley Brue,Sean Flynn
Edition 20ISBN: 978-0077660895Macroeconomics 20th Edition by Campbell McConnell,Stanley Brue,Sean Flynn
Edition 20ISBN: 978-0077660895 Exercise 22
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?
Explanation
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Verified
Required Reserve= 20/100 of $150,000= $3...
Macroeconomics 20th Edition by Campbell McConnell,Stanley Brue,Sean Flynn
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