Multiple Choice
Which of the following best describes the consequences of an increase in the bank rate?
A) Banks will borrow more from Bank of Canada so reserves increase.
B) Banks will borrow more from Bank of Canada so reserves decrease.
C) Banks will borrow less from Bank of Canada so reserves increase.
D) Banks will borrow less from Bank of Canada so reserves decrease.
Correct Answer:
Verified
Correct Answer:
Verified
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