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?
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?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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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?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7c2e5282-4959-4728-a47d-aee84c34706e%2F69e1a9c9-8911-4f81-a56c-c0e20d28403d%2Fd6uo4yk_processed.png&w=3840&q=75)
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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