08 Jun Question In the vault are 21,000 dollars in reseves
Question
In the vault are 21,000 dollars in reseves
The RRR = 7%
Outstanding checkable deposits = 280,000 dollars
1. What is the maximum allowed in checkable deposits?
2. What are the required reserves?
3. By how much can this bank expand the money supply in checkable deposits?
4. What are the excess reserves?
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