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The last step in the personal selling process is to close the sale.
Required Reserves
The minimum amount of reserves a bank must hold, as mandated by regulatory bodies, based on a percentage of the bank's deposit liabilities.
Money Supply
The total quantity of money available in the economy at a given time, including currency, deposits, and other liquid assets.
Required Reserve Ratio
The proportion of deposits that banks are required to hold in reserve and not lend out.
Required Reserve Ratio
The fraction of deposits that banks must hold in reserve, either in their vaults or with the central bank, to ensure bank liquidity.
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