Multiple Choice
Bank A has checkable deposits of $10 million and total reserves of $1 million.The required reserve ratio is 9 percent.The bank has required reserves of
A) $910,000.
B) $90,000.
C) $900,000.
D) $1,000,000.
E) There is not enough information provided to answer this question.
Correct Answer:
Verified
Correct Answer:
Verified
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