If Checkable Deposits in the First National Bank Total $550

question 29

Multiple Choice

If checkable deposits in the first National Bank total $550 million and the required reserve ratio is 10 percent, then required reserves for first National Bank is

• A)$50 million.
• B)$55 million.
• C)$7 million..
• D)$10 million..

---

Definitions:

Accommodation

In psychology, the process of modifying cognitive schemas to incorporate new information.

Existing Theories

The body of current hypotheses, ideas, and concepts that explain phenomena in a particular field of study.

Accommodation

In cognitive development, the process of altering one's existing schemas, or ideas, as a result of new information or experiences.

Assimilation

The process by which a person or a group's language and/or culture come to resemble those of another group.