Business, 24.04.2020 00:33 skylarjohnson2683

Suppose that all banks keep only the minimum reserves required by law and that there are no currencydrains. The legal reserve requirement is 10 percent. If Maggie deposits the $100 bill she received as agraduation gift from her grandmother into her checking account, the maximum increase in the total money supply will be:

(A) $10
(B) $100
(C) $900
(D) $1,000
(E) $1,100

Answers: 1

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Suppose that all banks keep only the minimum reserves required by law and that there are no currency...