EBK ECONOMICS OF MONEY, BANKING AND FIN
EBK ECONOMICS OF MONEY, BANKING AND FIN
5th Edition
ISBN: 8220106799727
Author: Mishkin
Publisher: PEARSON
Question
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Chapter 17, Problem 20AP
To determine

With the help of T-accounts, the effect on checkable deposits in banking system when FED sells $2 million of bonds to First National Bank.

ConceptIntroduction:

Checkable deposit −It refers to the demand deposit accounts against which drafts and checks can be issued. Checkable deposit accounts include savings accounts, checking accounts, money market accounts, negotiable draftsand checking accounts.

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