What Happens to the Value of the Deposit Multiplier When

Multiple Choice

What happens to the value of the deposit multiplier when banks hold excess reserves?

A) It is larger than the value implied by the formula.
B) It is smaller than the value implied by the formula.
C) It is only affected by the amount of loans that banks are willing to make, not the amount of excess reserves held.
D) There is insufficient information to answer the question.