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Suppose that from a new checkable deposit, FIrst National Banks holds two million dollars in vault cash, eight million dollars on deposit with Federal Reserve, and one million dollars in required reserves. Given this information, we can say First National Bank has ____ million dollars in excess reserves.

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1. Suppose that from a new checkable deposit, FIrst National Banks holds two million dollars in vault cash, eight million dollars on deposit with Federal Reserve, and one million dollars in required reserves. Given this information, we can say First National Bank has ____ million dollars in excess reserves.





 
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