Suppose first main bank, second main bank, and third main bank all hold zero excess reserves. the required reserve ratio is 20%. suppose that the federal reserve buys a government bond worth $1,500,000 from jack, a client of first main bank. he immediately deposits the money into his checking account at first main bank. as a result of this transaction, the required reserves for first main bank will increase by $ and its excess reserves will increase by $ .
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Suppose first main bank, second main bank, and third main bank all hold zero excess reserves. the re...
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