Suppose you found 1,000 hidden in your mattress and deposited it in a demand deposit account at your bank. If the reserve requirement was 20 percent, the deposit would directly create ____ in excess reserves and ultimately lead to a ____ total increase in the money supply, if all banks in the system lend out 100 percent of their excess reserves.
a. 800; 4,000
b. 800; 5,000
c. 1,000; 4,000
d. 1,000; 5,000
Question 2
The introduction of a new currency is generally sufficient to achieve a permanent reduction in the inflation rate.
a. True
b. False
Indicate whether the statement is true or false
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