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Suppose the required reserve ratio is 3 percent, and currency and reserves total $10 million. The maximum money supply that can be supported is:

Respuesta :

Answer:

$333.33 million

Explanation:

the required reserve ratio is the ratio of deposits that  a bank must keep in its vaults as a required reserve

the maximum amount of deposit = $10 million / 0.03 = $333.33 million

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