Multiple Choice
If the desired reserve ratio is 3 percent and deposits are $5.75 billion, banks hold
A) $0.1725 million in excess reserves.
B) $192 million in reserves.
C) $0.1725 million in reserves.
D) $172.5 million in excess reserves.
E) $172.5 million in reserves.
Correct Answer:
Verified
Correct Answer:
Verified
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