Question: Why do changes in bank reserves resulting from open-market operations by the Fed produce multiple changes in checkable deposits (and therefore money) in the economy?

Why do changes in bank reserves resulting from open-market operations by the Fed produce multiple changes in checkable deposits (and therefore money) in the economy? LO3

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4. Why do changes in bank reserves resulting from openmarket operations by the Fed produce multiple changes in checkable deposits (and therefore money) in the economy? LO3

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