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Home Q & A Board Other Fields Homework Help Business Economics
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Loraine Loraine
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9 years ago
The desired reserve ratio is 10 percent. Joe deposits $1,000 in Bank A. Bank A keeps its minimum desired reserves and lends the excess to Fred. Fred spends his loan at J.C. Penney. J.C. Penney deposits the check it receives from Fred in Bank B. Bank B keeps its minimum desired reserves and lends the excess to Mary. How much can Bank B lend to Mary?
A) $900
B) $90
C) $810
D) $100
E) $1,000
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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9 years ago
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Loraine Author
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9 years ago
this is exactly what I needed
gmiannotti
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Yesterday
Thanks
Turboturner
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2 hours ago
Thanks for your help!!
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