In december 1994 a man in ohio decided to deposit all of, Business Economics

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In december 1994 a man in ohio decided to deposit all of

In December 1994 a man in Ohio decided to deposit all of the 8 million pennies he’d been saving for nearly 65 years. (His deposit weighed over 48,000 pounds!) With a reserve requirement of 10 percent, what will be the cumulative change for the banking system in

(a) Transactions deposits?

(b) Total reserves?

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Business Economics: In december 1994 a man in ohio decided to deposit all of

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