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Carlton Bank has an increase in reserves of $1,000,000. If the reserve ratio is 10%, by what amount may Carlton increase its demand deposits?
a. $ 100,000
b. $ 900,000
c. $ 1,000,000
d. $ 10,000,000
Carlton Bank has an increase in reserves of $1,000,000. If the reserve ratio is 10%, by what amount may Carlton increase its demand deposits?
a. $ 100,000
b. $ 900,000
c. $ 1,000,000
d. $ 10,000,000