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Assume that no banks hold excess reserves, and the public holds no currency. If a bank sells a $100 security to the Bank of Canada, explain what happens to this bank and two additional steps in the deposit expansion process, assuming a 10 percent reserve requirement. How much do deposits and loans increase for the banking system when the process is completed?
Effective
Describes something that produces the intended or desired result.
Immediately
Without any delay; instantly or right away.
Personally
Relates to or concerns the private aspects of someone's life, often implicating a direct and individual involvement.
Reward System
A set of policies, mechanisms, and tools used by organizations to motivate and acknowledge employees' contributions.
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