Business, 27.01.2020 23:31 ashley110608

If a bank sells $10 million of bonds to the fed to pay back $10 million on the loan it owes, what will be the effect on the level of checkable deposits? assume that the required reserve ratio on checkable deposits is 10%, banks do not hold any excess reserves, and the public's holdings of currency do not change.

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If a bank sells $10 million of bonds to the fed to pay back $10 million on the loan it owes, what wi...