If the Required Reserve Ratio Is 15 Percent,currency in Circulation

question 69

Multiple Choice

If the required reserve ratio is 15 percent,currency in circulation is $400 billion,checkable deposits are $1,000 billion,and excess reserves total $1 billion,then the M1 money multiplier is

• A)2.54.
• B)2.67.
• C)2.35.
• D)0.551.

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