The Table Below Shows the Data (In Millions) for Wells

question 311

Multiple Choice

The table below shows the data (in millions) for Wells Fargo Bank in September 2007 and September 2008.Suppose that the required reserve ratio is 3 percent. $$\begin{array} { | c | c | c | } \hline & 2007 & 2008 \\\hline \text { Loans } & 79 & 100 \\\hline \text { Reserves } & 11 & 11 \\\hline \text { Deposits } & 247 & 266 \\\hline\end{array}$$
The data show that Wells Fargo

• A) the reserve ratio did not change.
• B) had fewer excess reserves in 2007.
• C) the reserve ratio increased as loans increased.
• D) had fewer excess reserves in 2008.

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