Ask Question
12 July, 23:41

Assume that elliott deposits $1,000 in coins he collected into his checking account. the required reserve ratio for the banking system is 10% and elliott's bank was fully loaned up prior to his deposit.

+5
Answers (1)
  1. 13 July, 01:07
    0
    money supply will increase : 1/0.1 x $1000 = $10,000.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Assume that elliott deposits $1,000 in coins he collected into his checking account. the required reserve ratio for the banking system is ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers