The simplex financial system is characterized by a required

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The SIMPLEX financial system is characterized by a required reserves ratio of 11 percent; initial excess reserves are $1 million, and there are no currency or other leakages. a. What would be the maximum amount of checkable deposit expansions,and what would be the money mulitplier?How would you answer in,change if the reserve requirement had been 9 percent?

Reference no: EM13481351

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