A bank with transaction deposits totaling $45 million had reserves equal to $0.98 million. The reserve requirement for this bank is _____ percent. (Hint: use the cutoff amounts as per the reserve requirements for the year 2013)
A. 10
B. 8
C. 3
D. 2
Answer: C
Business
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Indicate whether the statement is true or false
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What will be an ideal response?
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Fill in the blank(s) with correct word
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