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Homework answers / question archive / Suppose the First National Bank acquires $1,000,000 in new deposits

Suppose the First National Bank acquires $1,000,000 in new deposits

Economics

Suppose the First National Bank acquires $1,000,000 in new deposits. Which of the following is true?

  a.

Excess reserves on the new deposits are $12,000.
  b.

Assets and liabilities increase by $1,000,000.
  c.

Total reserves on the new deposits are $440,000.
  d.

Excess reserves on the new deposits are $500,000.
  e.

Required reserves on the new deposits are $60,000.

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