Given that the cash reserve ratio is 10 percent, what is the maximum amount of…

Economics JAMB 1986

Given that the cash reserve ratio is 10 percent, what is the maximum amount of that the banking system can create from an initial cash deposit of N1,000.00?

  • N100.00
  • N1,000.00
  • N9,000.00
  • N10,000.00 checkmark

The correct answer is: D

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