If a Number of People Suddenly Deposit into Their Checking

question 99

Multiple Choice

If a number of people suddenly deposit into their checking accounts a great deal of cash previously kept in their pockets or at home, other things constant, their actions will

• A) create excess reserves and place banks in a position to extend additional loans, which will reduce the money supply.
• B) create excess reserves and place banks in a position to extend additional loans, which will expand the money supply.
• C) lead to higher interest rates.
• D) force the Fed to reduce its discount rate.

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