Chapter19: Money Creation
Section: Chapter Questions
Problem 7SQ
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![John deposits $1,000 into his chequing account. If the reserve ratio is 10%, desired reserves are $
and excess
reserves are $](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3243f77d-bc2d-4c71-a068-4d9d2cf2cdd1%2F34a00e13-18a5-4f3c-a520-1781cc45f0d5%2Free6vra_processed.png&w=3840&q=75)
Transcribed Image Text:John deposits $1,000 into his chequing account. If the reserve ratio is 10%, desired reserves are $
and excess
reserves are $
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