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Business, 22.07.2020 20:01 melissacornut

Suppose first main street bank, second republic bank, and third fidelity bank all have zero excess reserves. the required reserve ratio is 20%. the federal reserve buys a government bond worth $1,500,000 from hubert, a client of first main street bank. he deposits the money into his checking account at first main street bank.

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Suppose first main street bank, second republic bank, and third fidelity bank all have zero excess r...
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