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The Fed conducts an open market operation and buys $50,000 of government securities from Commerce Bank.The desired reserve ratio is 25 percent.What is the change in Commerce Bank's total reserves and its excess reserves?
Contract Rescission
The legal cancellation or termination of a contract, returning all parties to their positions prior to the agreement.
Equitable Remedy
A remedy granted by courts in situations where money damages are inadequate, involving actions like injunctions or specific performance.
Mistake
An erroneous belief about the facts of a contract at the time the contract is concluded. When a mistake occurs, legal assent is absent.
Material Effect
A significant impact or change on a company's operations, financial condition, or future prospects.
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