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Business, 26.07.2019 06:00 agray062103

If the reserve ratio is 10 percent, banks do not hold excess reserves, and people hold only deposits and no currency, when the fed sells $10 million dollars of bonds to the public, bank reserves increase by $1 million and the money supply eventually increases by $10 million.

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If the reserve ratio is 10 percent, banks do not hold excess reserves, and people hold only deposits...
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