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Home Q & A Board Other Fields Homework Help Business Economics
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Loraine Loraine
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Posts: 4563
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8 years ago
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 money multiplier is equal to
A) 0.10.
B) 1.0.
C) 10.0.
D) 100.0.
E) $1 million.
Textbook 
Essential Foundations of Economics

Essential Foundations of Economics


Edition: 7th
Authors:
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Start by doing what's necessary; then do what's possible; and suddenly you are doing the impossible.
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SydnieSydnie
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8 years ago
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Loraine Author
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8 years ago
You make an excellent tutor!
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