Multiple Choice
If First Interstate Bankcorp has demand deposits of $8 billion,actual reserves of $1.4 billion,and the reserve requirement is 15%,the bank's excess reserves are
A) $100 million.
B) $200 million.
C) $400 million.
D) $800 million.
E) 1 billion.
Correct Answer:
Verified
Correct Answer:
Verified
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