Ask Question
4 August, 14:57

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.

+2
Answers (1)
  1. 4 August, 18:15
    0
    money supply will increase : 1/0.1 x $1000 = $10,000.
Know the Answer?
Not Sure About the Answer?
Get 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 there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers