Multiple Choice
Suppose the banking system currently has $300 billion in reserves,that the reserve requirement is 10%,and that $3 billion of the reserves are excess reserves that will not be lent out.What is the value of deposits?
A) $3,300 billion
B) $2,970 billion
C) $2,700 billion
D) $2,673 billion
Correct Answer:
Verified
Correct Answer:
Verified
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