Suppose Robina Bank receives a deposit of $55,589 and the reserve requirement is 4%. Answer the questions usingthis information.Round your answers to two decimal places.What is the amount that Robina Bank must keep on hand asrequired by the Federal Reserve (Fed)?keep on hand: $2223What is the amount that Robina Bank must have in excessreserves from this initial deposit?excess reserves: $What is the total change in the M1 money supply from thisone deposit?total change: $33353.40Incorrect138972.50Incorrect

Deposit = $55589 Reserve requirement ratio (RRR) =4%

Suppose Robina Bank receives a deposit of $55,589 and the reserve requirement is 4%. Answer the questions using this information. Round your answers to two decimal places. What is the amount that Robina Bank must keep on hand as required by the Federal Reserve (Fed)? 2223 keep on hand: $ What is the amount that Robina Bank must have in excess reserves from this initial deposit? excess reserves: $ What is the total change in the M1 money supply from this one deposit? total change: $ 33353.40 Incorrect 138972.50 Incorrect

Suppose Robina Bank receives a deposit of $55,589 and the reserve requirement is 4%. Answer the questions using this information. Round your answers to two decimal places. What is the amount that Robina Bank must keep on hand as required by the Federal Reserve (Fed)? 2223 keep on hand: $ What is the amount that Robina Bank must have in excess reserves from this initial deposit? excess reserves: $ What is the total change in the M1 money supply from this one deposit? total change: $ 33353.40 Incorrect 138972.50 Incorrect

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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