Answer to Question #21988 in Macroeconomics for Josh

Question #21988
Suppose the banking system currently has $400 billion in reserves, the reserve requirement is 10 percent, and excess reserves are $3 billion. What is the level of loans? a. $3,603 billion b. $3,600 billion c. $3,573 billion d. $3,570 billion My professor already told us that the answer is d. but i cant figure out twhat to do to get the answer.
1
Expert's answer
2013-01-21T10:25:21-0500
The answer to the question is available in the PDF file https://www.assignmentexpert.com/homework-answers/economics-answer-21988.pdf

Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

No comments. Be first!

Leave a comment

Ask Your question

LATEST TUTORIALS
New on Blog
APPROVED BY CLIENTS