Answer the following questions for each of the errors listed below,considered individually:
Present your answers in columnar form,using the following headings:
Errors:
Definitions:
Excess Reserves
Bank reserves exceeding required reserves
Checkable Deposits
Funds kept in bank accounts that can readily be withdrawn by writing a check or using a debit card, making them a highly liquid form of money.
Required Reserve Ratio
The fraction of deposits that regulators require a bank to hold in reserve and not lend out, in order to ensure bank stability and liquidity.
Excess Reserves
The funds that banks hold over and above the legally mandated minimum to safeguard bank liquidity, which can also be lent out.
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