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meghanaTiffanthery
meghanaTiffanthery meghanaTiffanthery
  • 14-04-2016
  • Business
Answered

what does it mean to say that "banks create money"?

Verified Answer :

Anonymous Anonymous
  • 14-04-2016

the process wereby banks make loans equal to amount of their excess recerves and create new checkbook money is known as multiple deposit creation each time a bank recieves a deposit it sets aside some of it to meet reserve requirements and may lend an amount equal to the remaing excess reserves

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