Answer the question based on the following balance sheet for the First National Bank. Assume the reserve ratio is 15 percent:
Refer to the data above. If a check for $20,000 is drawn and cleared against this bank, it will then have excess reserves of:
A. $15,000
B. $20,000
C. $25,000
D. $30,000
A. $15,000
Economics
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Based on recent research, which of the following is the most likely cause of the reduction in the rate of technological progress?
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