Question: Please use this information to answer questions 12-15 Consult pages 293-294 and pages 296-297 from the Required Course Textbook for the necessary mathematical formulas Assume

Please use this information to answer questions 12-15 Consult pages 293-294 and pages 296-297 from the Required Course Textbook for the necessary mathematical formulas Assume the entire private banking system in America has $ billion in transaction (checking) account balances The Federal Reserve System has established a Reserve Ratio of 10% Further assume the entire private banking system in America currently holds $10 billion in total reserves.The entire private banking system in America holds $____billion of Required Reserves

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