Assume the required reserve ratio is 12 percent and that the commercial banking system has $110 million
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Question:
Assume the required reserve ratio is 12 percent and that the commercial banking system has $110 million in excess reserves. The maximum amount of money which the banking system could create is:(round to the nearest number)
$917 million
$330 million
$1,353 million
$110 million
$660 million
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