Assume That a Firm Deposits in Its Bank a Cheque

question 103

Multiple Choice

Assume that a firm deposits in its bank a cheque for $1,000 drawn on another bank.If the target reserve ratio is 20 percent and excess reserves are initially zero,how much excess reserves does the bank now have?

• A)$800.
• B)$1,200.
• C)$5,000.
• D)$1,000.
• E)$4,000.

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