Use the following data to answer the below question. Required reserve $50 Checkable deposits $500 Savings Deposits $50 Excess reserves $180 Currency held by the public $160 The money multiplier is 1.69 The Fed conducts an open market purchase of $85. What will be the change in the money supply $answer? /Round to 2 decimal places/ What is the change in checkable deposits?

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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Use the following data to answer the below question.
Required reserve $50
Checkable deposits $500
Savings Deposits $50
Excess reserves $180
Currency held by the public $160
The money multiplier is 1.69
The Fed conducts an open market purchase of $85.
What will be the change in the money supply $answer? /Round to 2 decimal places/
What is the change in checkable deposits?
Transcribed Image Text:Use the following data to answer the below question. Required reserve $50 Checkable deposits $500 Savings Deposits $50 Excess reserves $180 Currency held by the public $160 The money multiplier is 1.69 The Fed conducts an open market purchase of $85. What will be the change in the money supply $answer? /Round to 2 decimal places/ What is the change in checkable deposits?
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