If the federal reserve sets the reserve rate to 2%, determine the resulting money multiplier.

Almeda products, inc., uses a job-order costing system. the company's inventory balances on april 1, the start of its fiscal year, were as follows:

Type of deposit reserve requirementcheckable deposits $7.8 - 48.3 million 3%over $48.3 million 10noncheckable personal savings and time deposits 0refer to the accompanying table. if a bank has $60 million in savings deposits and $40 million in checkable deposits, then its required reserves are$1.2 million.

Acompany sells garden hoses and uses the perpetual inventory system to account for its merchandise. the beginning balance of the inventory and its transactions during september were as follows: