phagonphillips1296 phagonphillips1296
  • 04-01-2024
  • Business
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Bank A has a checkable deposit of $30 million and a reserve of $3 million. The required reserve ratio is 5%. The bank has an excess reserve of-
A. 1.5 million.
B. 2 million.
C. 1 million.
D. 15,000.

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