Consider the following information about a banking system: new currency deposited in the system = $40 billion, legal reserve ratio = 0.20, excess reserves prior to the currency deposit = $0. the $40 billion deposit of currency into checking accounts will initially create

The $40 billion deposit of currency into checking accounts will create "$40 billion of new checkable deposits."

Checkable deposits are also known as demand deposit which means that the owner can withdraw without any prior notice.

the anti federalists was a movement that was opposed to the creation of a us federal government. although they were not as organized as the federalists, they also had a large group of leaders, especially in state politics.

the statement "now, in a large extended country, it is impossible to have a representation, possessing the sentiments, and of integrity, to declare the minds of the people” represents the concerns of the anti federalists.

they strongly believed that the federalists were representing the interests of aristocratic elements of society at the expense of the majority of ordinary people, who lived in a rural society.

their fear for the creation of a strong federal government and the president’s power of veto in their opinion would create a tyrannical rule that would dominate the people. they defended the importance of restraining the government’s power towards people at any cost.