Suppose you deposit $1 comma 4001,400 cash into your checking account. by how much will checking deposits in the banking system increase as a result when the required reserve ratio is 0.110? the change in checking deposits is equal to: $nothing (enter your result rounded to the nearest dollar).

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Explanation:

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The federal reserve took an expansionary approach during the crisis. this was done by expanding the money supply and boosting liquidity. this can be seen in the fed's actions of lending to banks, purchasing securities, and lowering the federal funds rate in order to lower overall interest rates. the fed's goal was to increase consumer spending and overall liquidity within the system, and they pursued this by expanding the supply of liquid money.