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Question
The Fed purchases $1 million of U.S. government securities from First Bank. The desired reserve ratio is 10 percent, the currency drain ratio is zero, and banks loan all excess reserves. The Fed's purchase increases First Bank's excess reserves by how much?A) $900,000
B) $1,000,000
C) $1,100,000
D) $10,000,000
E) $100,000
Answer
This answer is hidden. It contains 1 characters.
Related questions
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