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iVinArrow [24]
2 years ago
10

Suppose you win on a scratch‑off lottery ticket and you decide to put all of your $ 3,500 winnings in the bank. The reserve requ

irement is 5 % . What is the maximum possible increase in the money supply as a result of your bank deposit?
Business
1 answer:
Katarina [22]2 years ago
5 0

Answer:

$3,325

Explanation:

Reserves are maintained to fulfil the customers withdrawal requirement. It is imposed by the State bank over the Banks to hold a specific percent of cash as reserves. Bank hold the reserves and invest or utilize the residual in the market.

In this question 5% of $3,500 will be reserved and the remaining $3,325 will be available for the money supply in the market in different forms.

the maximum possible increase in the money supply as a result of your bank deposit is $3,325.

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