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QUESTION
1. Assume the reserve requirement is 10%. First National Bank receives a deposit of $5,400. If there is no slippage, how much could the money supply
1. Assume the reserve requirement is 10%. First National Bank receives a deposit of $5,400. If there is no slippage, how much could the money supply expand? Explain and show your work. (3 points for correct math. 7 points for analysis)
2. What is the current prime rate and discount rate? Identify your sources for information.
(5 points)
