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Suppose that the Fed undertakes an open market sale,selling $3 million worth of securities to a bank.If the required reserve ratio is 11%,checkable deposits (or the money supply) ,would _______________ by ________________ million,assuming that there are no cash leakages and that banks hold zero excess reserves.
Windfall Theory
Windfall theory suggests that unexpected, unearned, or sudden gains (windfalls) in wealth can have various effects on individuals’ behavior, the economy, or market dynamics.
Merchant
A person or company engaged in the wholesale or retail sale of goods or services.
Authorized Dealer
An entity or individual officially recognized and permitted by a manufacturer or government to sell or distribute specific products or services.
Homemade Furniture
Furniture created by individuals rather than manufactured by companies, often characterized by its unique design and the personal touch of its maker.
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