Concept: change in checking deposits show work question suppose you deposit $1 comma 8001,800 cash into your checking account. by how much will checking deposits in the banking system increase as a result when the required reserve ratio is 0.220? the change in checking deposits is equal to?

$8,181.81

Explanation:

Data provided in the question:

Amount deposited in the checking account = $1,800

Required reserve ratio = 0.220

Now,

Change in the checking deposits is calculated as:

⇒ ( Amount deposited ) × ( Money multiplier )

also,

Money multiplier =

or

⇒ Money multiplier =

or

⇒ Money multiplier = 4.54

Therefore,

Change in money supply = $1,800 × 4.54

or

⇒ Change in money supply = $8,181.81

a progressive tax is a tax that imposes a lower tax rate on low-income earners compared to those with a higher income, making it based on the taxpayer's ability to pay. that means it takes a bigger percentage from high income earners than it does from low income people.

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