Business, 15.10.2019 18:00 890777

Assume that the required reserve ratio is 5 percent. if a commercial bank has $2 million cash in its vault, $1 million in government securities, $3 million on deposit at the fed, and $60 million in checkable deposits, then its excess reserves equal:
(a) 0 million
(b) 2 million
(c) 5 million
(d) 6 million

Answers: 3

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Assume that the required reserve ratio is 5 percent. if a commercial bank has $2 million cash in its...

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