If a bank has $30,000,000 in deposits, excess reserves of $2,000,000, and required reserves of $1,500,000, Instructions: In Part a, round your response (in millions) to one decimal place. In Part b, enter your response as a whole number. a. what are its total reserves?

If a bank has $30,000,000 in deposits, excess reserves of $2,000,000, and required reserves of $1,500,000, Instructions: In Part a, round your response (in millions) to one decimal place. In Part b, enter your response as a whole number. a. what are its total reserves?

ECON MACRO

5th Edition

ISBN:9781337000529

Author:William A. McEachern

Publisher:William A. McEachern

Chapter14: Banking And The Money Supply

Section: Chapter Questions

Problem 2.3P

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If a bank has $30,000,000 in deposits, excess reserves of $2,000,000, and required reserves of $1,500,000,
Instructions: In Part a, round your response (in millions) to one decimal place. In Part b, enter your response as a whole number.
a. what are its total reserves?
million
b. what is the required reserve ratio?
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