Answer:
The answer is $200 billion
Explanation:
Legal reserve ratio is the minimum fraction of customers' deposits that the banks are required to keep by law as cash. This minimum ratio is determined by Central banks while money supply is the total amount of money in circulation at a particular time.
Legal reserve is 100% ÷ 20%
= 5
Therefore, the banking system as a whole could increase the money supply by $200 billion($40 billion x 5)
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Answer:
$12
Explanation:
If P = $2 then the Q will be;
Q = 20 - 4 * 2
Q = 20 - 8
Q = 12
The maximum annual membership fee will be equal to the amount of demand. The annual membership fee cannot be greater than the demand function if so there will be decline in the demand.