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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
Publisher: Cengage Learning
ISBN: 9781337617383
BuyFind

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
Publisher: Cengage Learning
ISBN: 9781337617383

Solutions

Chapter
Section
Chapter 13, Problem 9WNG
Textbook Problem

Suppose the Fed conducts an open market purchase of $10 million worth of securities from a bank. If the required reserve ratio is nine percent, what is the resulting change in checkable deposits (or the money supply) if we assume there are no cash leakages and banks hold zero excess reserves?

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Economics (MindTap Course List)
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