A bank has $100 million of checkable deposits, $6 million of required reserves, and $2 million of excess reserves. What is the required reserve ratio? Group of answer choices 12 percent 3 percent 6 percent 2 percent
A bank has $100 million of checkable deposits, $6 million of required reserves, and $2 million of excess reserves. What is the required reserve ratio? Group of answer choices 12 percent 3 percent 6 percent 2 percent
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter12: Money, Banking And The Financial System
Section12.3: How Banking Developed
Problem 2ST
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Question
A bank has $100 million of checkable deposits, $6 million of required reserves , and $2 million
of excess reserves. What is therequired reserve ratio?
of excess reserves. What is the
Group of answer choices
12 percent
3 percent
6 percent
2 percent
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