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28 Sep 2019
Suppose that from a new checkable deposit, First National Bank holds 2 million dollars in vault cash, 8 million dollars on deposit with the Federal Reserve, and 1 million dollars in required reserves. Given this information, we can say First National Bank has ________ million dollars in excess reserves.
Suppose that from a new checkable deposit, First National Bank holds 2 million dollars in vault cash, 8 million dollars on deposit with the Federal Reserve, and 1 million dollars in required reserves. Given this information, we can say First National Bank has ________ million dollars in excess reserves.
Chika IlonahLv10
28 Sep 2019
