If a bank with a required reserve ratio of 15 percent receives a deposit of $600, it now has a a. $600 increase in excess reserves and no increase in required reserves. b. $90 increase in excess reserves and a $510 increase in required reserves. c. $600 increase in required reserves and no increase in excess reserves. d. $510 increase in excess reserves and a $90 increase in required reserves.
If a bank with a required reserve ratio of 15 percent receives a deposit of $600, it now has a a. $600 increase in excess reserves and no increase in required reserves. b. $90 increase in excess reserves and a $510 increase in required reserves. c. $600 increase in required reserves and no increase in excess reserves. d. $510 increase in excess reserves and a $90 increase in required reserves.
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter12: Money, Banking And The Financial System
Section: Chapter Questions
Problem 2WNG
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