A bank has $770 million in checkable deposits. The bank has $85 million in reserves. The bank's required reserves are and its excess reserves are . Group of answer choices $85 million; $0 $770 million; $85 million $685 million; $8.5 million $77 million; $8 million

The correct answer is letter "D": $77 million; $8 million.

Explanation:

The U.S. Federal Reserve (Fed) establishes a minimum amount of money banks must have in front of unexpected demand. That minimum is called Bank Reserve. The current bank reserve set by the Fed is 10% of the bank's demand and checking deposits.

Excess reserves is the amount of money banks have on top of the bank reserve that cannot loan. As banks do not profit in interest with that amount of money, they do not tend to have much excess reserves.

In the case:

the u.s. census bureau produces data on the population and economy nationwide. it can you to analyze the kind of people living in your neighborhood. it does not show you the market of people willing to buy your product or an existing market for your product. that will require more market research. the census bureau only gives you an insight to the demographics in your area.