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Question
Assume the desired reserve ratio is 10 percent, banks loan all excess reserves and the currency drain is zero. If the Fed sells $100 million of U.S. government securities to Boise Bank, the monetary base increases byA) $1 million.
B) $10 million.
C) $100 million.
D) $1,000 million.
E) $90 million.
Answer
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Related questions
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E) the population keeps growing.
Q:
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